A decentralized financial ledger for the future of the world economy
A project doing real business to support community, also it is just the start.
ICO starts at 20:00, on 15th(UTC+8) this month. and ends on 20th, Jan 2017.websitewhitepapertwitterslack
QQ group chat: 176248202
We often use QQ and Wechat group chat but we dont often use slack; however, we'd like to keep it to share news with community.
What is Terra
Terra is a value and payment network based on blockchain technology whose position is building a global financial ledger. Users can securely save their fiat money or financial assets issued by banks, trusted financial institutions and individuals on Terra network via Terra Wallet, also, they can immediately and safely exchange and transfer money with very little cost worldwide.
Development and Features
Terrapay: it is a Mobile APP for Android and IOS users, it is easy to use and specifically designed and optimised for international payments.
Terra Card: A custom-made Terra wallet account built in card which works with customer-made hardware equipment for merchant and retailer. It is a solution for problems of privacy disclosure and credit card hacking.
Terra Identity: it is a global authentication and identification system based on blockchain allowing users to record personal information, including biometric information, selectively. In the context of the trend of worldwide flowing of digital money and assets, it will have a cooperation with the local governments to reduce criminal and fraudulent behaviour to lay a foundation for the global digital economy in future.
Terra Smart Gateway: A decentralized gateway solution which is able to make a connection between Terra’s and other blockchain like bitcoin.
Technical briefConsensus protocol: FBAS
￭ Decentralized control.
￭ Low latency.
￭ Flexible trust.
￭ Asymptotic security. Smart Gateway:
it is a decentralized gateway for blockchain assets.Smart Contract:
Terra will support a simple use of smart contract in finance, but not a turning complete one.Terrapay:
Terrapay is a handy App. With the cross-platform development framework, we build Terrapay on IOS and Android simultaneously. Users utilize Terrapay to exchange all kinds of assets, by sending and receiving command through our countless block chain nodes. The demo of Terrapay is almost completed for now. Besides app, we also support wechat to manage users' assets in the future.
More details of techniques in whitepaper
Markets and Strategies
Enormous market: Start from Cross-border payment, which takes around 20% of the global payment, however occurs 40% of global payment charges. Cross-border incomes reached 300 billion dollars in 2015, and it keeps at 5% of the growth pace per year.
Great positioning and targets: Aims on overseas students and Southeast Asian Tourism markets, as well as the market where the financial services are less developed and has a large mobility of working population.1. Similar Products
￭ Ripple: it is the most successful blockchian project except bitcoin which has respectively completed a 350w seed round, a 3000w round b and 5500w round c of financing. Moreover, it has also established many cooperative relationships with banks and financial institutions. However, it has deviated from its original post of direct public service, and has changed to become a technical service providers for banks and financial institutions
￭ Stellar and Leshi: A subdivision of Ripple which has completed improvements on algorithms and has established cooperative relationships with Deloitte and other companies. The chinese market recently had a breakthrough that they signed a cooperation agreements with Leshi Finance. But they had a poor developing strategies which makes stellar grow such slowly.
￭ Lykke: It is initiated by OANDA, Richard Olsen, who is the founder of a famouse exchange trading platform. It uses coloured coin technology, and customers can simply use mobile APP to complete exchange, transactions, payments and other operations. However, currently does not receive a lot of attention.
￭ Circle: Focusing on payment around bitcoin, has access to a number of well-know domestic and foreign venture investments totally 6000w US dollars.
￭ Oklink: It is a subsidiary product of OKcoin, and it is also the first blockchain payment solution based on blockchain in china.
In conclusion, Ripple is the current leader in blockchain for global payment solution while the developing of blockchain payment is too slow to be pioneering in china. Moreover, chinese payment market is already monopolized by Alipay and WeChat Wallet which have both perfected the experience on daliy payment for customers. So those who have an ambition on global payment are very hard to win directly in chinese market. However, A helpful strategy for them is concentrating on the international market, in which blockchian technology acts as a important role.2. Terra’s Strategy
￭ Starting from cross-border payments and exchanges, based on Mobile APP and make full use of the accumulated resources, firstly, concentrate on overseas students and Southeast Asian Tourism Markets, which keep a high increasing rate, with quick expansion of payment ecology of these two markets. Also access to the markets of countries such as India and Africa, where the financial services are less developed and has a large mobility of working population, is also Terra’s plan.
￭ There are also three auxiliary online market plans, which could make profit, will start once default milestone has been reached.
￭ In order to maintain creativity within technology, the Terra project will actively communicate with the leaders in blockchain industry; At the same time, bonuses would be set for contributors from community as a way of promoting the project.3. For related market data, see attachment in whitepaper(index)
￭ Market data of Chinese nationals holidaying abroad.
￭ Data on Chinese International Students.4. Advantages of Terra
￭ Practicality: Terra is based on Stellar consensus and optimized improvements, and also supports a simple use of smart contracts. In comparison to other idealistic blockchian project, Terra is far easier for people to us, and can work well in current financial and banking structures.
￭ Taking Advantages of Trends: Currently, Ripple has a very strong and steady development, but there are no similar products focousing on global payment in china. As the first blockchain project focusing on global payment in china, it is also able to take full advantage of the development trend of Ripple, whilst connecting relatively easily with banking and financial institutions.
￭ Resource Advantages: Banks and governments can be connected to a rich network of relevant contacts, which can provide information to help avoid risks in the project, as well as embassies and overseas community resources.
￭ Fixed Position, and Fast Growth: Terra chose to enter the international student market which has low costs and a more efficient access to users. Most international students are high net worth individuals who have differing opinions on products and life quality. They act as a guide for market orientation and therefore have a big influence over the market. 5. Terra Market Objective
￭ Year One: Start the international student and South East Asian tourism market plan, as well as the plan to join the market with lesser-developed financial services. This will gain 100-200k global users, complete a connection with at least one market maker, and enable dollar and Chinese Yuan online transfer.
￭ Year Two: We will have over 500k users, and will have completed a multi-currency gateway for instant exchange. We will be cooperating with at least five banks, and have connections with five major universities. Alongside this we will have completed the initial development of Terra Identity, and the Terra Card Services. In order for students to pay tuition fees as well as other daily essentials, we will have completed the connections needed for payment scenarios of international students. Finally, by completing our connections with the Thai tourism market, encouraging consumers in this area.
￭ Year Three: The number of consumers will be over 1.5M. The consumption behaviour of international students will have be improved upon, as will the arrangement of the consumption of the South East Asian tourism market
￭ Long-term goal: Establish a brand new global value network which is safe, efficient and reliable, and will therefore become one of the main method for mainstream international payment transfers
CEO: Linxu Du
5 years of study in the UK, with 6 years of market analysis and financial investment experience, in-depth Bitcoin industry for 4 years, has a profound understanding and forward-looking on blockchain. Participated in many bitcoin community’s projects such as the early investment, and achieved good investment results. With an international strategic vision and financial outlook, excellent learning ability, strategic awareness and keen market insight and perception. Mainly responsible for corporate culture, the overall direction of the development and strategic framework. But also have a certain logic of the process of thinking, can be a good idea to assist the design and development process.
CTO: Chao Xu
Graduated from the Sichuan University of Software Engineering， having eight years of experience in development. Xu currently works for Tencent, involved in a variety of game front-end development, currently in a first rankd national-level hand tour project as front-end development. Beginning with the Bitcoin in 2011, there has been a lot of enthusiasm for Blockchain technology, and there will hopefully be some significant changes in this sector. He is skilled in the programming languages C / C ++, C #, Swift, Lua and Python.
core developer: Huang Yaoxian
Graduated from the University of Electronic Science and Technology of China in July 2001 with a Master’s in Computer Science and Technology. Alongside this, Huang also spent a year studying at the University of California, Berkeley. After graduation, he worked in Tencent as a client developer for interactive entertainment, and from this has ten years of development experience. He has participated in a number of heavy weight national-level hand tour of the core development.(??). With a proficiency in C++, C # and Unity, he has fantastic architecture design capabilities. Huang is also passionate about blockchains and is familiar with encryption algorithms and mathematical principles commonly used commonly employed.
core developer: Zhao Guangyang
Zhao has a bachelors degree in Electronic information from the School of Electronics Engineering & Computer Science Peking University, and carried out Security and satellite communications technology research. As an excellent student with an innovative mind, he won a number of awards from Peking University, including the May Fourth Scholarship. He has an aptitude for Java programming and communication technology, as well as the theory and applications of large data management. In the past he has also been responsible for laboratory building and the maintenance of distributed systems. Zhao also has four learns of software and development experience, having previously developed situation monitoring software.
core developer: Liu Yihang
In 2013 Liu graduated from Shengyang University of Technology with a bachelor’s degree in Technology and Finance, but recently graduated from Dalian University of Technology with a master’s in Computer Technology. For 13 years, he has been working in a banking information technology department as a system network engineer. With four years of experience in financial service and projects, he is responsible for the construction, operation and maintenance of information systems, bank-wide operating systems, databases, and virtualization platforms.
CGO: Long Shuai
Profile: A graduate of Accounting from Heilongjiang Bayi Agricultural University. During his undergraduate degree, he acted as chairman of the university’s student union, displaying his daring approach, solid execution, communication and organisational skills. His expertise span across different industries and he has a wealth of experience in large state owned enterprises, large-scale exchanges and cooperation between companies. He has a unique understanding and strong interest for financial technology and for the past three years, has focused on the Bitcoin industry.
CMO: Wu Hanyou
In 2013, Wu graduate from the University of Bristol, having studied statistics. In 2014, she then graduated from a master’s programme in Financial Mathematics from the University of York. Her time studying at university gained her many accolades, and upon graduation she gained a job in brokering. After working in the financial industry for two years, she has gained a wealth of financial market experience.
￭ Have teamed an international financial and economic outlook and strategic vision, as well as a good observation on trends and business relations. This helps the project to avoid systematic cyclical risks and to achieve the best cycle of growth and development
￭ Establish a good communication and cooperation with the greats of the community and have cooperative relationships and a grasp of the latest trends in the industry, enhancing the reliability and flexibility of the product
￭ Excellent group atmosphere, up-to-date product concepts, uncomplicated thinking, flexible marketing strategy, strong strategic planning and control details with integrate individual taste and artistic accomplishment
￭ There is management of the integration of Chinese and Western culture, this process is not simply mechanised. The humorous and proactive nature of the group is utilised in a way which maximises the group efforts and taps into their potential and passion for innovation.
￭ Full of principle, responsibility and a goal orientated vision
The three-year financial plan includes wages, space hire, hardware, legal support, expert industry advice, marketing and advertising, public relations and travel. The total planned amount is RMB 17.564 million (contract: USD 2.592 million). The budgeted amount for wages totals the three-year expense of a 10-person technology team and 6-person marketing team, as well as incentives for talented employees and the introduction and development of advanced technology.
Shenzhen Zhongyi Technology is a fun and inclusive, proactive, flexible and efficient team. In the context of financial structure optimization and upgrading of the Internet and the IOT economy, Aimed at exploring the integration, introduction, development of advanced financial technology in the establishment of efficient business ecology and organizational forms , and provide safe and stable, efficient and convenient, transparent and reliable technical support.
The company has planned three blockchain projects, chiefly; Terra, the value and payment of financial applications; Velocit
, an industrial 4.0 and IOT data platform project and project Lotus
providing government and social management services. These are designed to build a data –based social activity ecology with collaborative relationships, and a high degree of labour division like Swarm-works. As the first step in the development of Shenzhen Zhongyi Technology, it is also an important part of our overall strategy. Terra will enter the market with a technology framework that is believable, on-trend, with practical applications, and will move quickly through the mobile app market. Through this, it will then have access to many users and important resources, which accumulate a potential resource base and. lay foundation for the key project-Velocit.
Token and Distribution
The token of Terra is named TEA; total amount is 10 billion
60% is for global ICO.
15% is used for building Terra Foundation, and encouraging inspiring innovation development in community and get VC funds to support the project if the money is used out.
10% for business creation.
10% reserved for team, locked before reaching the meaningful milestone.
5% for marketing promotion.
Rights and Interests for Investors and Holders
The project aims to build a new, safe, efficient and trustworthy global value network. It will make TEA a great value if our milestones are achieved. Additionally, to thank Terra's investors and holders who help the development of the Terra project, the original address of Terra ICO will receive 20%（maximum） stake of Velocit
, while TEA holders will receive fees and dividends from cross-border payment and Terra Card services, Terra Identity and the three online projects for Terra.
ICO terms and conditions
￭ Terra’s Token is TEA, and the total amount is 10 billion.
￭ There are 10M shares (1 share = 600TEA) offered in the ICO, it is 60% of total TEA.
￭ Minimum amount for participant is 0.01 BTC.
￭ It plans to raise 1000-8000 BTC. If It doesn't reach 1000 BTC at the end, all funds will be returned. Also, the ICO will end immediately once it reaches 8000BTC during the whole time.
￭ There are 4 phases set for different rate to buy:
Day 01- Day 09: 1BTC= 1250 shares
Day 10- Day 18: 1BTC= 1000 shares
Day 19- Day 27: 1BTC= 950 shares
Day 28- Day 36: 1BTC= 900 shares
￭ Unsold TEA will be locked by Terra Foundation, and allowed to be sold to VC in future or in other ways when the funds is used out.
￭ Don’t send bitcoins directly from the exchange platform, it is not refundable for participants to do in this way.
￭ Here is a calculation example for stakes of project Velocit and Lotus should be received by participants: if A purchases 1 billion TEA, then A will get (1/6) *20%=3.33% of total stakes of Velocit and Lotus.
ICO starts at 20:00, on 15th(UTC+8) this month. and ends on 20th, Jan 2017.
NEWS AND ANNOUNCEMENTDec 7, 2016 ICO is delayed because of an important business conversation
Dec 12th, 2016 Glad to come back and announce that our ICO starts at 20:00, on 15th(UTC+8) this month. Join Terra, Join a united and valued community!
Dec 15th, 2016 We were just interviewed by Chinese main financial media, http://www.gongxiangcj.com/show-22-2781-1.html?isappinstalled=0&from=timeline
Dec 25th, 2016 We have to change the plan because the ICO is not going well. we will make terrapay come out, then ICO again. Also there are some slight changes of rules. It will be split for three times ICO. And we will redesign the brand and website.
Chinese main medias report our project!!http://www.gongxiangcj.com/show-22-2738-1.html?from=singlemessage&isappinstalled=0#10006-weixin-1-52626-6b3bffd01fdde4900130bc5a2751b6d1http://xw.qq.com/ln/20161209024346/LNC2016120902434600?from=singlemessage&isappinstalled=0http://if.stockstar.com/SI2016120900001489.shtml?from=singlemessage&isappinstalled=0http://finance.jrj.com.cn/biz/2016/12/09155621817069.shtml?to=pc&from=singlemessage&isappinstalled=0
10M TEA for BTCtalk's campaign
5M TEA for Twitter campaign
3M for good quality articles and videos
BTCtalk's campaign link:https://bitcointalk.org/index.php?topic=1712701.0Twitter campaign link:https://bitcointalk.org/index.php?topic=1692617.msg17160527#msg17160527