Terra 2.0 (LUNA)
Based on Tendermint, A Public Blockchain Emerged from Terra Classic (previously Terra).- 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.