According to the Terra Ecosystem Revival Plan new Terra chain without the algorithmic stablecoin has been launched on 27 May. The old chain is called Terra Classic (token: $LUNC), and the new chain is called Terra (token: $LUNA). For more information about new chain and coins airdrop kindly check this source: https://twitter.com/terra_money/...
30 Jan — 28 Feb 2019
ATH Market Cap
24 Trade Vol.
Vol. (24h) / MCap
(84.8% of Total Supply)
7 May 2019
28 Feb 2019
All Time High
5 Apr 2022
All Time Low
13 May 2022
Terra is a blockchain protocol that offers an innovative approach to cryptocurrency volatility. It was created by the Korean blockchain company Terra Labs in 2018. A common hindrance in the adoption of cryptocurrencies as a medium of exchange or as transactional currencies is price fluctuation. Terra aims to solve this by developing and supporting stable payments and open financial infrastructures. It achieves this with an elastic monetary policy that creates price-stable cryptocurrencies pegged to a variety of fiat currencies. The blockchain is powered by Terra (LUNC), which also functions as governance and staking token that supports Terra's stablecoins and payment processing systems.
Terra’s configurable architecture delivers self-stabilizing stablecoins and other unique characteristics to the market. Terra currently has a wide variety of stablecoins tied to FIAT currencies available, these include TerraUSD (USTC), TerraSDR (SDT), TerraKRW (KRT), and TerraMNT (MNT).
The network depends on an elastic monetary supply mechanism. If there is a surge in demand of a particular fiat currency, which subsequently causes a surge in the price of Terra stablecoins, the elastic monetary system goes into action to apply to balance to ensure the asset does not deviate from its peg. Arbitrage also helps to stabilize prices on Terra. This works by traders simultaneously buying and selling stablecoins on different platforms, thus naturally restoring its price to the pegged value.
The primary purpose of the LUNC token is to protect the network by locking value in the Terra ecosystem through staking. At the same time, LUNA holders are exposing themselves to the price volatility risk of the LUNA token itself. Thus, Terra’s staking rewards act as an incentive for LUNA holders to take on these risks and hold LUNA long-term. Terra coins are distributed based on Terra Protocol, that is, first to validators on the network and then passed on to individual delegators. The amount of rewards is determined by the amount staked and increases in size as more transactions take place on the network.
Mirror is a DeFi protocol powered by smart contracts on the Terra blockchain. It was launched in 2020 and facilitates the creation of synthetic assets known as ‘mAssets’ (Mirrored Assets). Essentially, mAssets mimic the price behavior of real-world assets onto the chain, thus allowing traders to get price exposure without having to own the assets.
Anchor is a savings protocol on the Terra network that offers low-volatile yields on Terra stablecoin deposits. The yields are relatively stable as they are powered by diverse staking rewards from major proof-of-stake blockchains, and can thus be expected to be a lot more stable than money market interest rates.
Terra uses a hybrid design that includes both stable coins and a native staking currency making it an innovative approach from many other stable coins choosing a peg with a fiat-collateralized mechanism. This means it not only has a stable transactional mechanism, but users can earn yields by holding the staking coin and the overall system has improved decentralization. The stake coin also serves as collateral. As long as there are sufficient transaction fees Terra can easily cover the costs associated with its decentralized mechanism and risk compensation.
LUNC is available to buy on any of the CEXs and DEXs listed on the market tab. Popular choices include Binance, OKEx, and KuCoin.
Terra Classic's current price is $ 0.000122, it has increased +1.21% over the past 24 hours.
Terra Classic's All Time High (ATH) of $ 119.14 was reached on 5 Apr 2022, and is currently -100% down.
The current circulating supply of Terra Classic is 5.77 Trillions tokens, and the maximum supply of LUNC is unlimited.
Terra Classic’s 24 hour trading volume is $ 40.74 Million.
Terra Classic's current share of the entire cryptocurrency market is 0.03%, with a market capitalization of $ 707.34 Million.