Terra 2.0 is a public blockchain based on Tendermint that emerged from Terra Classic.
June 20th 2022
Terra 2.0 (LUNA)
Based on Tendermint, Terra 2.0 is a public blockchain emerged from Terra Classic.
After the depeg of USTCFollowing the depeg of USTC in May 2022, the Terra Classic community decided to create a new blockchain without the algorithmic stablecoins called Terra 2.0. LUNA tokens were airdropped to former Terra Classic users who were affected as a result of the depeg.
LUNA is the project's native token. LUNA is currently used for the following purposes:
Staking: In exchange for rewards from transaction fees, users stake LUNA to validators who record and verify transactions.
Governance: Stakeholders are allowed to vote on proposals and participate in Treasury governance.
Paying Fees: LUNA is used by users to process transactions and store data.
There are several major components to the project that work together:
Terra Core: the official implementation of the Terra protocol written in Golang.
Terra Station: Terra Station is Terra's official wallet, allowing transactions, testing smart contracts, and interacting with them.
Terraform Labs (TFL): a company responsible for facilitating the development of Terra, and maintaining Terra station (explorer), Terra Core, and other technical infrastructures.
The total supply of LUNA tokens is 1,000,000,000 as of May 31st 2022.
Learn more about the token distribution of LUNA here.
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