Former Terra Developer Announces He Has Started A New Project By Learning Lessons From The Crash!

A former Terra developer Neel SomaniFor Eclipse, Solana-based cross-chain modular aggregation initiative 15 million dollars collecting the wreck TerraUSD He became one of the few people out of the stablecoin ecosystem with funding.

Former Terra Developer Raised $15M And Is Applying The Lessons From The Terra Crash In His New Initiative

Somani previously supported the TerraUSD stablecoin ecosystem. Ethereumdesigned to connect to Ethereum Virtual Machine (EVM) with a project Terranova had worked on it.

However, when the project failed after the collapse of TerraUSD, the developer moved on and Eclipse started the project.

His relationship with Terra, whose collapse wiped out nearly $60 billion, was a stumbling block, but Somani didn’t let that stop him.

In an interview, Somani said that the ecosystem has strong developers and he wants to promote it.

Somani tries to apply the lessons learned from his previous studies, avoiding the failure situation he experienced as much as possible.

“If the Blockchain I was building on failed, then I would be completely vulnerable to that and there was really no way to mitigate that risk,” Somani said.

“It’s starting to make a lot of sense to bundle up by offering a service because with our solution you don’t have to worry about security. You don’t even have to worry about reliability because you can always replace L1.”

According to Somani, Eclipse will release the first protocol version as open source early next year.

As Somani calculates his success in investor capital, other notables in the Terra ecosystem face investigation or escape arrest at the last minute.

Authorities in South Korea were recently responsible for the development of the Terra network. TerraForm Labs arrested the ex-president of his company, and that arrest warrant was later overturned by a judge.

*Not investment advice.