Introduce

In the context of a boom in projects and , people began to realize the importance of the for . If you pay attention you can see most of the projects all use as , , BUSD… The reason is that the notorious price changes of conventional cryptocurrencies make them impossible to apply in ecosystems or build economies because most tokens are speculated to cause prices to change. erratic change. That's why over the years there have been many Blockchain projects, but none of them can really be put into operation or any digital currency that can pay in life. In that situation, the project built to create stablecoins that can be traded in commerce to build useful ecosystems.

about the terra luna project

What are the highlights of Terra?

Available ecosystem

When it comes to the advantages of a Blockchain, people often think of disruptive technology or bold ideas. But in fact, a strong ecosystem determines the value of a coin because the ecosystem is where the liquidity is guaranteed, as well as creating the actual use value of the cryptocurrency.

The company behind , TMON (Ticket Monster) is one of the 10 largest e-commerce companies in Korea, with a company value of up to 3.5 billion USD. At the head of an e-commerce alliance with over 40 million users, TMON can fully guarantee a solid ecosystem once put into operation.

In fact, the TERRA coin has not only 1 Stablecoin but a TERRA “society”.

These TERRA stablecoins will correspond to popular currencies such as USD, EUR, CNY, JPY, KRW, GBP, .. and the common currency of the IMF is SDR.

Or we can simply understand, we have the corresponding Stablecoins Prices for the above currency units are TerraUSD, TerraEUR, TerraJPY, TerraCNY, TerraGBP, TerraKRW, TerraSDR.

The stability

Terra stabilizes the price by changing the currency supply, which can be used when necessary token to sign a contract to ensure value for Terra. In addition, Terra operates under decentralized solvency protection to eliminate the risks of errors and price attacks.

Do not liquidate assets

In the Marker model , your assets can be completely confiscated and liquidated to ensure the value of stablecoins. Terra takes a different approach by letting asset holders put their tokens in a stable reserve basket and earn transaction fees from Terra.

Low cost

For the purpose of making a currency for payments, stable coins should have extremely low transaction costs, but due to Blockchain limitations, many stablecoins such as , have very large transaction fees, sometimes even higher than 10 USD, which makes them unavailable for retail trading. With almost zero transaction costs, Terra has the upper hand over most other stablecoins.

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Decentralized

In essence, most stablecoins are centralized coins because they are backed by real-life companies, which makes them useless if the companies that own them go bankrupt or become insolvent. Terra is a decentralized coin, so they can all operate independently without any company owning them.

How does the Terra blockchain work?

Blockchain Terra works using consensus algorithm based , where the token holder stake their tokens as collateral to validate transactions, get rewards in proportion to the amount place a bet. Token holders can also authorize others to authenticate transactions on their behalf, sharing any revenue generated. The LUNA token will act as the price stabilization fund of the Terra stablecoin of equivalent value. Terra can create multiple stablecoins that form an international payment network.

How does blockchain terra work?
Terra stablecoin payment network

Stablecoin Terra and LUNA tokenn

What is Terra stablecoin?

Terra Stablecoin (Trade coin) is a set of stablecoins pegged to the national currency for payment in e-commerce in the Terra Blockchain. For example: TerraUSD, TerraEUR, TerraCNY, TerraJPY, TerraGBP, TerraKRW, TerraSDR... These stablecoins are used for payment in the network of e-commerce platforms that accept these stablecoins. Terra's total supply is infinite, as long as there is enough collateral to mint.

What is terra stablecoin?
Terra stablecoins

What is LUNA token?

LUNA is the native token of Blockchain Terra, which acts as collateral for stablecoins issued on the protocol. LUNA tokens are burned and issued using the stablecoin on-demand algorithm. This mechanism pressures stablecoins to maintain their stable value. There are also fees associated with the issuance and burning of stablecoins (known as seigniorage). A portion of these fees will be distributed to LUNA holders.

Some basic information about Terra token (LUNA)

  • Name: Terra
  • Symbol: LUNA
  • Blockchain: Terra
  • Token Standard: Updading
  • Token type: Utility and stake token
  • Total Supply: 994,337,468 LUNA
  • Current Supply: 484.811,261 LUNA
    Note: In Blockchain Terra, there is only one type of token, LUNA

Allocate LUNA tokens

Of the 385,245,974 LUNA tokens (over 1/3 of supply) minted for sale, 10% is for Terraform Labs, 20% for staff and project contributors, 20% for Terra Alliance, 20% for stable stock valuation, 26% for project backers and 4% for liquidity. The remaining tokens (614,754,026) will be generated according to Terra's protocol. This offering brings Terra $ 32 million.

Investors

investor of the terra . project

With a strong foundation and wide relationships, Terra attracts investment from Kakao Ventures, Kakao Investment, Dunamu & Partners, Hashed... TMON e-commerce platform. But not only Korea, Terra also received investment from a series of other large investment funds such as 1kx, Kenetic, GBIC, Monex Group, Translink Capital, etc. Or especially Polychain Capital, one of the investment funds. was first backed by Sequoia Capital, a leading prestigious venture capital fund in the US with successful deals such as Apple, Google, , , Stripe, YouTube, Instagram, Yahoo! and WhatsApp… Terra is the first and only project in Korea that has been invested by Polychain Capital.

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Development teamn

From mathematicians to scientists and financiers, with backgrounds as diverse as Apple, Microsoft and the Federal Reserve Bank of New York, this team brings together the wide range of skills that make up the protocol. Terra.

Daniel Shin is one of the co-founders. He is also the founder and CEO of TicketMonster, Korea's leading e-commerce platform. He is also the co-founder and board member of Fast Track Asia, a company that has founded and sold many other businesses such as Fast Five and FoodFly. Daniel is known for his expertise and deep network in e-commerce. He holds a BA in Economics from the Wharton Undergrad School.

Do Kwon is another co-founder of Terra. He also founded and is the CEO of Anyfi. During his time at Anyfi, Do Kwon co-invented and holds a number of key company patents on decentralized networking and routing systems. He was also a software engineer at Microsoft and Apple, and graduated in Computer Science from Stanford University.

Nicholas Platias Head of Research. Having previously founded Guru Labs, he also develops algorithms and distributed systems at Nest and RelatelQ. Nicholas studied Math and Computer Science at Stanford and has won many medals at the International Math Olympiads.

Evan Kereiakes financial researcher. He worked at the Federal Reserve Bank of New York for more than 7 years. He is the Japan Portfolio Manager for the foreign exchange reserve portfolio. Prior to that, he was an economic analyst at the US Treasury, having also worked with the White House Economic Council. Evan studied engineering at Duke and the University of Illinois, and also holds an MBA from the University of Chicago.

Don Kim is the Business Manager. Don is the Business Development Manager at South Korean crypto exchange GOPAX. Prior to that, he was a military diplomat for the Republic of Korea Air Force and studied Government at Harvard.

Wayne Shu is the head of the strategy. After leaving Stanford to work on many projects, Wayne sees the potential in cryptocurrencies to change the way modern finance works.

KJ Lee is the head of the product. He brings to the table eighteen years of experience in project management and development. KJ also served as Head of Development at Mesh Korea, also adopted TicketMonster as Product Owner. He is an expert in logistics, supply chain and payment processes.

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CJ Han is the Finance Director. With eight years of experience in portfolio management as well as in fixed-income, currency and commodity trading, he also holds a BA in Economics from the University of Pennsylvania.

Gigi Kwon Head of Communications. She is Chief Marketing Officer at Uber, Regional Manager for the company's marketing and Eats Uber's CRM and paid online campaigns. Gigi is also a former associate at a New York-based PR agency, holding the title of Communications from the University of Pennsylvania.

terra . project team
From left to right, top to bottom: Daniel Shin, Do Kwon, Nicholas Platias, Evan Kereiakes,, Don Kim, Wayne Shu, KJ Lee, CJ Han, Gigi Kwon

Terra's Roadmap in 2020

Publicity Tequila-4 Terra .
The event went live on Thursday, September 3, 2020 (01:00 PST, 04:00 EST) with rc-0.4.3. there are recommended feature upgrades including smart contract integration.

+ Contest for developers.

Public Mainnet Upgrade (Columbus-4).

Taking place on October 3, 2020

+ Contingency when successfully evaluating and approving the governance proposal

Houston

+ Development framework for CosmWasm smart contracts.

StationCX browser extension.

Browser extension to interact with Blockchain Terra.

Launch of mobile wallet for Blockchain Terra mid-October.

Engineering Bay.

This is a knowledge base of Terra smart contract standards, tools, and resources.

How to earn and own LUNA Token

The LUNA token is generated by trading stablecoins in the Terra Blockchain, which you can also purchase on some of the exchanges listed below.

Exchange LUNA token

Exchanges that can buy LUNA tokens include: , BKEX, Global, .

LUNA token storage wallet

Terra owns its own wallet, MicroWallet.

Should I invest in LUNA?

Here are some points worth noting if you intend to invest in LUNA:

  • LUNA is used for staking.
  • LUNA has a total supply of 1 billion tokens and the price of LUNA increases as more and more transactions occur.
  • Terra is one of the projects Labs and is invested by a number of other large funds.

summary

In terms of revenue and size of the ecosystem, Terra is definitely one of the leading projects in the electronic world, moreover Terra has a strong ecosystem, a quality team and a long list of projects. famous partner. Therefore, Terra is a good project for those who want to invest long-term and with little risk. All information in the article What is Terra? of the All information is compiled and researched and should not be considered investment advice. Good luck with your investment!

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