Max E.Wed, Dec 1, 2021 3:03 PM
Rolling Stocks: Terra (LUNA) Review of a Rapidly Growing Ecosystem
Volatility is still scaring off potential cryptocurrency investors. Several teams are involved in resolving the issue, including the creators of Terra (LUNA). Its developers believe: exchange rate stabilization alone is not enough to advance the technology.
Terra is a blockchain network that relies on a set of stablecoins. In turn, stablecoins are backed by the network's native token, LUNA. Terraform sees its mission as the widespread adoption of cryptographic solutions, which requires asset stability and core network composability. Terra Network is a platform for fast and reliable settlements, on top of which it is possible to create financial applications.
- Project launch: 2019
- Protocol: Proof-of-Stake
- Mining method: staking
- Limit: 995,778,040 LUNA
- Current stage: active project, launch of new solutions in the ecosystem
The LUNA Crypto project began in January 2018 with the launch of Terraform Labs in South Korea. The founders – Do Kwon and Daniel Shin – managed to attract the attention of both the community and leading investors during the crypto boom. Kwon previously held a position as a software engineer at Apple and Microsoft. He is behind Anyfi, one of the most sophisticated decentralized applications of today. In 2019 he entered the Forbes 30 youth ranking in the category of “Finance and Venture Capital”. Daniel Shin is a Fast Track Asia board member and founder of the e-commerce platform, Ticket Monster.
After receiving $ 32,000,000 from Arrington XRP, Binance, Coinbase, Pantera Capital and Polychain, they launched the LUNA token. Terra Network, a global payment system built on the blockchain, also started its work. The latter gained fame in South Korea and Mongolia, and the number of active users today exceeds 2,000,000 people.
Terra LUNA Ecosystem
LUNA cryptocurrency is a native token of the Terra ecosystem, which is intended for staking. Through the delegation mechanism, Terra (LUNA) Crypto holders are able to generate passive profit. In addition, Terra regulates the price of the native stablecoin through the LUNA token. Also, the token has the properties of digital money and is a full-fledged means of payment on the Internet.
- Circulating Supply: 399,645,629 LUNA
- Total Supply: 876,661,490
- Max Supply: 1,000,000,000
- Market Cap: $17,444,658,248
Capitalization rating: Rank #13 according to CoinGecko
The LUNA Crypto can exist in three states:
- A common asset with which you can conduct transactions without restrictions.
- Bonded Luna (bLUNA), which generates a reward for the validator and delegator to which it is bound to. For the period of "bonding", it cannot be traded freely and is kept locked in the ecosystem.
- Unbonded LUNA. The unbonding period in the network lasts for 21 days – during this period no staking rewards are accrued, but the coin cannot be freely traded. When the timeframe expires, LUNA reverts to its first, unrestricted state.
Terra LUNA Wallet
It is possible to store LUNA Crypto In the official Terra Station browser extension/mobile app. With the launch of the application, you will need to create a new wallet. The alternative is to store it in exchange accounts.
Terra LUNA Price Prediction
According to some forecasts, the price of the Terra (LUNA) Crypto could be around $ 46.07 by the end of 2021 and $ 273 by 2025. The Terra project is designed to deploy an open and decentralized financial infrastructure. Terra offers solutions for the new digital economy that include tools to launch payment systems. The LUNA token itself is the main tool through which the Terra protocol is managed and enforced. Therefore, the LUNA cost reflects the popularity of the project.
Anchor is Terra's decentralized money market, where UST depositors are offered a stable income of 20% per annum (APY). Borrowers can secure UST loans using bLUNA, LUNA's bond currency. Anchor has its own coin, ANC, which gives the right to manage the network and receive rewards. Anchor plans to introduce support for other PoS Layer 1 solutions, including Solana.
The asset tokenization protocol Mirror was launched in December 2020. It allows you to digitize everything from stocks and ETFs to real estate. You can exchange such assets both on the Mirror platform and on the leading DEXs – Uniswap, PancakeSwap etc.
The UST stablecoin is used as collateral for the Mirror. The Mirror has its own native MIR coin. It can be kept in stake, it also opens up possibilities for managing the system. The success of the Mirror means an increase in demand for Terra stablecoins. The growing demand for coins is beneficial to LUNA Crypto holders. The economic model is designed in such a way that as interest in stablecoins grows, the LUNA deficit increases, and payments to coin holders participating in the management of the network increase. The income distribution model is unique: 100% of the amount received by the network through network fees is returned to the holders of the LUNA.
CHAI is the key payment system service. According to the developers, it is used by 5% of the population of South Korea. Mobile application for money transfers is available on the App Store and Google Play. It is used to pay for purchases and receive various discounts from partners.
How To Mine LUNA?
For the owners of the LUNA staking is the option. A user can stake LUNA and receive profitability of about 4-6% per annum. Owning nodes will bring increased reward (1-2% more), but only 130 largest delegates participate in consensus. They are required to own 20 thousand LUNA coins and computing power in the form of servers. You can also use Mirror and other financial services to tokenize assets and expand capital.
Where To Buy Terra (LUNA)?
More than 30 cryptocurrency exchanges offer to buy an asset: Binance; Bittrex; Huobi Global; HitBTC, etc. The list includes local exchanges in Korea and Indonesia.
What is Terra Luna?
The LUNA token is used for management and mining. It is a Terra protocol betting token that absorbs the price volatility of Terra stablecoins. Users stake LUNA to Terra blockchain validators, who record and verify transactions on the blockchain and are rewarded in the form of transaction fees.
Is Luna Terra a good investment?
The behavior of LUNA coins in 2020 gave cause for optimism. Analysts are confident that this trend will continue. Although the price of the token is showing volatility, peaks and valleys can be caused by external factors such as a crypto market crash. Overall, for investors looking for virtual currencies with profit potential, LUNA Crypto can be a good investment.
How much is Terra Luna worth?
At the time of writing this review, the Terra LUNA price is $ 43.59.
Will Terra Luna go up?
Some analysts believe that the upward trend in the price of the LUNA coin will continue. They believe the price will peak at $59.24 at the end of 2021 and will continue to climb to $118.26 by the end of 2022.
Is Terra a good investment in 2021?
LUNA price action has been tremendous since the beginning of this year. Some crypto market analysts believe that long-term investments in these coins will be profitable.