Terra (LUNA)USD

Terra is a blockchain protocol for payments and algorithmic stablecoins, built to support price-stable digital transactions. Terraform Labs was founded by Do Kwon and Daniel Shin in 2018. The original Terra mainnet launched in April 2019. After that chain collapsed, a reset phoenix-1 mainnet launched on May 27, 2022. Terra is built on the Cosmos SDK and uses Tendermint delegated proof-of-stake consensus to validate transactions. The native token is LUNA, used for staking to secure the network, participating in governance, paying fees, and earning mining rewards. In the original design, LUNA worked alongside Terra stablecoins through a mint-and-burn mechanism intended to maintain price stability for payments and DeFi applications. The post-2022 chain launched with a genesis supply of one billion LUNA, while the earlier chain also targeted one billion tokens but relied on a dynamic mint-and-burn model rather than a fixed cap. Terra continues to operate as a proof-of-stake payment and stablecoin protocol under the LUNA ticker following its 2022 relaunch.