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Terra 2.0 (LUNA)



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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