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What Is Terra?
Terra is a decentralized financial project to build a stable coin via e-commerce. This financial infrastructure is powering the innovation of money and providing the bases for a new digital economy with its smart contracts, stablecoin protocol, mass-user adoption and oracle system.
Terra combines the price stability and wide adoption of fiat currencies with the Bitcoin (BTC) to offer fast and affordable settlements. Terra offers stablecoins pegged to the U.S. dollar to ensure borderless benefits of cryptocurrencies.
Terra’s development began in January 2018, and its mainnet was officially launched in April 2019.
LUNA is the utility / native token of Terra, stabilizing the price of the protocol’s stablecoins. Holders of Luna submit and vote on governance proposals.
Features of Terra (LUNA) include:
MiniPOS –a web-based CREDIT staking wallet that enables stakers to earn through block production. It replaces a CPU based devices and CREDIT holders make passive income.
Terra Credit – this is a decentralized public ledger, offering transparency to the blockchain.
Terra Hub – a social network that rewards users with CREDIT via its monetization activities.
Terra Mart – this is a free market place for shopping, fully operated by Tera. Vendors are allowed to place their goods and services online with fully customized URL at zero fees.
Terra Wallet – An app based and web wallet for storing of CREDIT. Users can use their Smartphone to transact and store CREDIT.
Team of Terra (LUNA)
Terra team is made up of dedicated professionals drawn from different backgrounds to take this project to a greater height. The team is founded in 2018 by Do Kwon and Daniel Shin. The duo saw the need to use blockchain and cryptocurrency technology to bring price stability and usability.
Do Kwon is the CEO and has been a driving force in the project development in Terra (LUNA).He was previously the CEO of Anyfi-a start-up networking company. He has previously worked as a software engineer for Apple and Microsoft.
Daniel Shin-a co-founder of Terra, co-founded TMON — a major South Korean e-commerce platform and also co-founded Fast Track Asia LTD.
Other team members remain anonymous.
Use Cases of Terra (LUNA)
- Terra (LUNA) is used for e-commerce – exchange of goods and services.
- It is a platform for easy payments, trading and investment.
- Terra (LUNA) is used as a borderless payments system.
- It a liquidity tool for cryptocurrency exchanges.
- Terra (LUNA) is used for other financial related activities especially in the decentralized finance sector.
Mining of Terra (LUNA)
LUNA is a token that is mined through DPoS to power Terra’ blockchain. In exchange, the protocol offers stable mining rewards- CREDIT from transaction fees to miners.
Notes for Investors
It has been a progressive journey for Terra (LUNA) in the cryptocurrency space; having made some remarkable progress, especially in the last three months. Crypto analysts believe, Terra (LUNA) will be a success story, as more people know about its great benefits.
Terra (LUNA) is presently trading at a unit price of $0.296414 USD, the market cap stands at a value of $114,596,445 USD and the circulating supply is 386,609,581 LUNA. It’s presently ranks 78th in the cryptocurrency market.
Terra (LUNA) will never be considered a bad investment option when considering the above statistics.
Quick Disclaimer:
This report is not in anyway, recommending Terra (LUNA) for investment. The crypto market is presently unstable and unpredictable. Please, consider this publication informational, just to educate the public.