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Terra 2.0 (LUNA)
Based on Tendermint, A Public Blockchain Emerged from Terra Classic (previously Terra).
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Based on Tendermint, Terra 2.0 is a public blockchain emerged from Terra Classic.
After the depeg of USTC in May 2022, the community behind Terra Classic decided to create a new blockchain without the algorithmic stablecoins called Terra 2.0. The new LUNA tokens were airdropped to the old users that were affected by the depeg event.
LUNA is the native token of the project. The current use cases for LUNA include:
Staking: Users stake LUNA to validators who record and verify transactions on the blockchain in exchange for rewards from transaction fees.
Governance: Token holders can participate in treasury governance and stakers can participate in proposals and voting.
Paying Fees: Users use LUNA for processing transactions and storing data.
The project consists of the following major components working in conjunction:
Terra Core: the official Golang reference implementation of the Terra protocol.
Terra Station: Terra station is the official wallet of Terra, allowing transactions, smart contract testing and interactions, and other functions.
Terraform Labs (TFL): an entity that facilitates the development of Terra, and maintains Terra station (explorer), Terra Core, and other technical infrastructures etc.
As at May 31th 2022, the total token supply of LUNA token is 1,000,000,000.
Learn more about the token distribution of LUNA here.