Retrograde was created to boost yields for ASTRO stakers and liquidity providers on Astroport, Terra’s decentralized exchange. The protocol will also supervise Astroport’s governance using RETRO tokens.
Retrograde launches on May 1, beginning with a one-week RETRO-UST bootstrapping event in which users will be able to deposit their UST to collect RETRO tokens in two months’ time. In the second phase, the protocol will start accepting ASTRO and xASTRO deposits, and issue RETRO, rexASTRO and LP tokens three months later.
As Terra “continues to grow, governance will become more and more critical,” Terraform Labs’ general manager Matt Cantieri said, adding that Retrograde is expected to solve “one of the most important problems in Terra.”
Previously, Retrograde announced partnerships with blockchain analytics company Delphi Digital, hedge funds Apollo DAO and Arrington Capital, and staking platform Lido, among others. Now, Frax Finance joined this group to invest in Retrograde and have FRAX, a fractional-algorithmic stablecoin, brought to Terra. According to the statement announcing the partnership, “FRAX have formally invested in Retrograde as a DAO.”