New Protocol on Terra Classic Teases Upcoming Testnet Launch

• Selenium Protocol’s upcoming testnet aims to refine user-friendly synthetic asset trading on Terra Classic.
• SELE token drives decentralized governance and incentivizes platform growth ahead of CEX listing in 2025.

After the successful Terra Luna Classic nearing key proposal approval before the v3.3.0 upgrade, as revealed in a recent CNF update, Selenium Protocol, a DeFi platform on Terra Classic, is preparing for a major milestone with its testnet launch.

The team shared this news on X, offering a glimpse into the platform’s functionality with a strong emphasis on user experience. As a hub for synthetic assets, Selenium allows users to engage with tokenized versions of assets like stocks and commodities without owning the underlying assets.

Beta testers are currently exploring its features, while the development team is crafting a user-friendly UI tutorial. Soon, the platform will be open for broader public access to showcase its full potential.

The preview highlighted a sleek user interface designed for monitoring and trading synthetic assets, such as Amazon (sAMZN), Gold (sGOLD), and Google (sGOOG). This transparency-focused design aims to simplify trading for users and build trust in the protocol.

Selenium Protocol specializes in “selenized assets,” synthetic tokens that mirror real-world asset prices. These tokens offer blockchain users opportunities to speculate or hedge against price movements.

Powered by the SELE token, Selenium facilitates governance participation and incentivizes platform use. SELE holders can vote on protocol development, ensuring decentralized input and community involvement.

Testnet and Future Plans

Launching the testnet represents a crucial phase for Selenium, providing a controlled environment to refine features and address potential issues. The team has prioritized usability, creating tutorials to onboard new users seamlessly. The testnet will soon open to the public, signaling the platform’s readiness for broader adoption.

Looking ahead, Selenium plans to list the SELE token on Centralized Exchanges (CEX) by early 2025. The platform remains optimistic about favorable policies for digital assets under the incoming U.S. administration, potentially fostering significant growth opportunities.

At the time of writing, Terra Classic (LUNC) is priced at $0.0001061, reflecting a 7.45% decline in the past day and a 20.77% drop over the past week.