Terra (LUNA) stable? Coin value?
“Terra is a blockchain protocol that uses stable fiat-linked coins to power cost-stable global payment systems.” According to its project documentation, Terra combines price stability and broad acceptance of fiat currencies with censorship of Bitcoin resistance (BTC) and offers fast and affordable settlements.
In 2018, the development of Terra began, and in 2019, a major network was launched. In September 2021, it offers stable coins for various currencies. It has special rights and agreements with the International Monetary Fund.
“Terrin’s original token, LUNA, is used to stabilize the price of stable protocol coins.” LUNA token owners can also submit and vote on management proposals, giving them the functionality of a management token. Who are the founders of Terra?
Daniel Shin and Do Kwon founded Terra. They envisioned the project as a way to encourage the rapid adoption of blockchain technology and cryptocurrency, focusing on price stability and usability. Kwon has taken over the position of CEO of Terraform Labs, the company behind this project. What makes Terra unique?
Terra seeks to stand out by using stable fiat-linked coins, stating that it combines the benefits of cryptocurrencies with the daily stability of fiat currency prices. It maintains its one-on-one exchange rate using an algorithm that automatically adjusts the supply of stable coins based on its demand. It does this by encouraging LUNA owners to replace LUNA and stable coins at profitable rates, as needed, to expand or contract the supply of stable coins to meet demand.
Terra has established partnerships with payment platforms.
Terra supports the Terra Alliance, a group of companies and platforms that advocate for its adoption. In February 2019, the company announced that e-commerce platforms from 10 different countries, representing a user base of 45 million and a gross value of goods of 25 billion dollars, are members of the alliance. How many Terra (LUNA) coins are in circulation?
Terra has a stockpile of a billion tokens. If this number is exceeded, the MOON is burned until it returns to the equilibrium supply level. “The new LUNA tokens were minted according to a protocol algorithm, as needed, to maintain the price of Terra stable coins.”
LUNA was made available for the first time, for purchase in a private sale of tokens for start-up investors, which included the investment hands of major stock exchanges such as Binance, OKEx and Huobi. he sale was concluded in August 2018, and as a result, Terra raised $32 million. How is the Terra network protected?
The Terra blockchain is secured using a Tendermint-based consensus-based consensus algorithm, in which LUNA token owners invest their tokens as collateral to validate transactions, receiving rewards in proportion to the amount of the LUNA token invested. Token owners can also delegate to others to confirm transactions on their behalf, sharing all proceeds. Terra also offers additional instructions to nodes to check best practices, to help keep the network secure.
“In May 2019. CertiK revealed that the 'modeling and mathematical reasoning' of the Terra network was 'considered a sound'or a security audit of the network, although it would not comment on blockchain performance." Where can you buy Terra (LUNA)?
Terin Token, LUNA, is listed on several cryptocurrency exchanges, including Huobi, Bitfinex and Upbit, where it is available for trading against fiat currencies, stable coins and other cryptocurrencies.
“Popular LUNA price pairs include: LUNA / USD, LUNA / GBP, LUNA / AUD and LUNA / JPY.”
