Summary What unfolded over the last week with LUNA & UST sent shockwaves throughout our entire industry. It had cascading effects across the entire space that affected countless protocols including Planet. We saw the TVL of all of DeFi go from $250 Billion to $144 Billion (according to DeFi Llama). …

So, Let’s Explain What Happened Prior to the recent PancakeSwap migration, Planet had just over 637,407 CAKE deposited in the CAKE (PCS) vault. When PancakeSwap migrated their contracts, the rewards allocated to the CAKE pool became 0. We found a bug in our contracts that assumes the CAKE rewards assigned to the strategy, must be…

InsurAce is a fast-growing DeFi insurance protocol with a simple goal, to make crypto safer. We’re excited to announce that the InsurAce protocol now offers coverage for anyone staking on Planet. At a high-level, those who purchase coverage are doing so to be insured in case of any smart contract…

“Infinity is that which is boundless, endless, or larger than any number.” We’re excited to announce that Infinity Vaults are now live on Planet. The entire community has contributed ideas and energy to make Infinity Vaults a reality. Infinity Vaults align protocol incentives in a few key ways: Boosted voting…

The aUST market is now live on Green Planet. This is a massive step for both Planet & the Terra ecosystem. Billions of dollars (in UST) is held as aUST earning 19.5% APY on the Anchor protocol on the Terra blockchain. The absolute majority of aUST is just sitting in…

February 12th, 2022 — Wormhole has been quietly behind some of the most empowering technology for cross-chain movement of value. We’re extremely excited about the potential of Portal which is designed to allow anyone to freely move any crypto asset across chains like Terra, BSC, Solana, Avalanche and Ethereum. Planet…

January 12th, 2022 — We’re excited to announce that Planet is launching a FRAX market on Green Planet! Founded by an incredible team, FRAX is growing at a rapid pace with over $2 Billion FRAX circulating. What Is FRAX? FRAX is the first fractional-algorithmic stablecoin protocol. FRAX is open-source, permissionless, and entirely on-chain…

December 30th, 2021 — Looking ahead, 2022 will be an incredible year for Planet Finance. There’s so many game-changing things on the roadmap like a completely new UI, partnership integrations, a mobile app & some highly innovative features. Here’s a quick overview of the Development Focus for Planet over the…

December 30th, 2021 — The week leading up to Christmas and after are always strange weeks, but things continue to push forward. We wanted to give an update about all of the the things that happened in the prior two weeks! …