LUNA is a native coin of the Terra network. This blockchain specializes in creating stablecoins, which are convertible into LUNA. It can be used to pay fees, to peg stablecoins, to stake, and participate in governance. For staking users can receive rewards. The LUNA token is used to provide stability to the network.
The significant feature of the Terra project is an opportunity to peg stablecoins to various fiat currencies. Anyone can propose a new stablecoin.
Terra stablecoins can be used for payments. They are easily swapped into any currency. So far, Terra has performed incredibly well, and it is considered that this project has all the chances to build an alternative worldwide banking system.
Terra grew out of a start-up called Terraform Labs in 2018. It has two co-founders, Do Kwon and Daniel Shin. Initially they wanted to find a solution for the crypto volatility problem, and thus push the adoption of cryptocurrencies to a new level. It is a well-known fact that the adoption is going slowly for several reasons:
There are a number of advantages that may attract users to the project. Let’s take a closer look at them.
If you would like to become a member of the Terra community and would like to purchase LUNA, SimpleSwap is here to help you. To do this, please follow the instructions below: