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What is Terra (LUNA)?

Terra (LUNA) is a decentralized stablecoin that can expand and narrow the supply chain in order to stabilize unit prices. With superiority over fiat currencies, Terra operates under decentralized protection in terms of solvency, eliminating the risk of errors and ‘Soros attacks’. In addition, Terra participates in decentralized financial spending, ensuring that economic growth is distributed fairly through a democratic consensus mechanism, rather than a political system composed of elected representatives.

Terra will be deployed on multiple commercial platforms, as a means of exchange when purchasing products and services. The value of the token will be tied to a fiat currency, such as US dollars. The reserve token provided by Terra called Luna comes with a fixed supply. The Luna token generates rewards from Terra transactions and therefore appreciates value through the use of the Terra protocol. As you can see, Terra has the prospect of becoming a real “money” on Crypto rather than just a value for exchanges on exchanges.

What is Project Terra?

Terra is a blockchain project for e-commerce. The project created their own stable coin to pay and reduce transaction fees. A part of the saved transaction fee will be put into their stabilization fund, including the 2nd cryptocurrency, LUNA. This LUNA will work to keep Terra stable as a stable coin.

What is Terra (LUNA)?

One of the unique features of Terra Money is the way they design their tokens. Dual Token mechanism, with TERRA Token and LUNA Token.

LUNA is a Collateral Token or Reserve Token. LUNA Token is born TERRA is traded. The total supply of LUNA is fixed.

Features of Terra

As mentioned above, Terra has a Dual Token mechanism that includes TERRA and LUNA.

TERRA Stable Coin:

The Terra Stable Coin community includes: TerraUSD, TerraEUR, TerraCNY, TerraJPY, TerraGBP, TerraKRW, TerraSDR correspond to the world’s leading currencies USD, EUR, CNY, JPY, GBP, KRW and the IMF’s common currency are SDR.

It is possible to swap back and forth between Terra Stable Coin, for example, the exchange rate of TerraUSD to TerraKRW is equal to the exchange rate from USD to KRW.

The value of cryptocurrencies in Terra Family (TerraUSD, TerraEUR, TerraCNY, TerraJPY, TerraGBP, TerraKRW, ..) is determined by taking the votes of miners into the Reserve Stability.

Team dev uses algorithms to change the supply of cryptocurrencies in Terra Family. At the same time, reserve funds from LUNA Token will be used to stabilize prices.

LUNA Token:

  • LUNA is considered the exploitation power of the entire Terra network.
  • LUNA has a price stabilization function for Terra Stable coins.

What are LUNA tokens and Terra tokens used for?

The main uses of LUNA are: Using LUNA to stabilize the price of Terra Stable Coin

Terra is used to pay for goods or services provided by the e-commerce platforms within Terra’s ecosystem.

Terra is used to reward miners who vote to determine the prices of coins in Terra Family.

Team

Co-founder Daniel Shin. Founder and CEO of Ticket Monster, the largest e-commerce platform in Korea. He also co-founded and is on the board of Fast Track Asia, which has established and sold many units such as Fast Five and FoodFly. Daniel is a big name in the field of e-commerce. Bachelor of Arts degree in Wharton Undergrad.

Co-founder Do Kwon. He also founded and ran Anyfi. At Anyfi, Do Kwon has contributed and owned many important patents on distributed networks and networks. He used to work as a software engineer at Microsoft and Apple. He graduated from computer science at Stanford.

Evan Kereiakes is in charge of financial research. He has 7 years of experience at New York Reserve Bank as a Japanese portfolio manager for foreign exchange reserves. He used to be an economist at the US Treasury, with ties to the White House Economic Council. Evan studied engineering at Duke and Illinois universities and earned an MBA from the University of Chicago.

Conclusion

Only the top e-commerce platforms in Asia, there are about 25 billion USD worth of goods and more than 45 million users. Imagine, when these e-commerce platforms applied Terra’s solution and paid. We have huge daily purchases, and of course, the value of the LUNA Token will also increase. It is the story of the future, when Terra proves its advantages and is well received by the community, including e-commerce platforms, and users.

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