LUNC Terra Classic

Acerca de Terra Classic

Terra is an algorithmic stablecoin platform that runs on the Proof of Stake (PoS) built by Tendermint, which is the bottom layer of the proof-of-stake blockchain. LUNA is Terra's platform token, used for the issuance of stablecoins (TerraSDRs), price stabilization mechanism, and network governance. Users can use LUNA tokens to exchange TerraSDRs stablecoins, and vice versa. The price stability of such stablecoins is guaranteed. Luna is the mining currency of Terra DPoS blockchain, and Terra is supported by Luna. Therefore, miners provide stability and safety. In the exchange, the agreement relies on transaction fees and seigniorage to provide stable mining rewards under all economic conditions. Terra is designing a price-stable digital currency that will provide the driving force for the next generation of blockchain payment networks. Terra has established a global e-commerce alliance that maintains continuous user growth, bringing the low-cost advantages of blockchain transactions to merchants and consumers. Terra's goal is to link digital currency with practical applications and grow into an innovative open platform for financial decentralized applications (dApp) to achieve the actual growth of the blockchain economy. Terra was founded by a group of business, financial and blockchain technology experts, with offices in Singapore and South Korea. The price stability mechanism of the Terra system depends on the user's arbitrage behavior. For example, when TerraKRW, a stable currency against the Korean won, drops to 0.95:1.00 in the Korean won, users can use 95 won cryptocurrency to get 100 TerraKRW on the trading platform, and then exchange it to the Terra platform to get 100 won worth LUNA tokens. If the price of TerraKRW exceeds 1 won, users can exchange LUNA tokens for TerraKRW and then sell them on the trading platform for profit. The Terra platform hopes to reward network maintainers with predictable rewards regardless of the economic situation of the network. Terra uses transfer fees and LUNA token destruction to hedge against changes in unit rewards.