LUNA Data Price Offer today

 

Live Terra today's price is IDR 736,506 IDR with a 24-hour trading volume of IDR 16,138,642,369,452 IDR. We update our LUNA to IDR prices in real time. Terra is down .65 in the last 24 hours. CoinMarketCap's current rating is #9, with a market cap of IDR 286,719,096,304,149 IDR. There is a circulating supply of 389,296,414 LUNA coins and max. supply is not available.

The top exchanges to trade on Terra right now are Binance, OKX, DigiFinex, Bybit, , and . You can find others listed at .

What is Terra (LUNA)?

Terra is a blockchain protocol that uses fiat-pegged stablecoins to power a stable-priced global payment system. According to his white paper, Terra combines price stability and widespread adoption of fiat currencies with the censorship of Bitcoin (BTC), and offers fast and affordable transaction settlements.

Development of Terra began in January 2018, and the mainnet officially launched in April 2019. In September 2020, Terra offered stablecoins pegged to the US dollar, South Korean won, Mongolian tugrik, and the International Monetary Fund's Special Withdrawal Rights currency basket—and Terra intends to roll out additional options.

Terra's native token, LUNA, is used to stabilize the price of its protocol stablecoin. LUNA holders can also submit and vote on government proposals.

Who are the Founders of Terra?

Terra was founded in January 2018 by Daniel Shin and Do Kwon. Both understand this project as a way to drive the rapid adoption of blockchain technology and cryptocurrency through a focus on price stability and usability. Kwon takes on the position of CEO of Terraform Labs, the company behind Terra.

Prior to developing Terra, Shin founded and led Ticket Monster, otherwise known as TMON—a major South Korean e-commerce platform. He later founded Fast Track Asia, a startup incubator that works with entrepreneurs to build fully functional companies.

Kwon previously founded and served as CEO of Anyfi, a start-up that provides decentralized wireless mesh network solutions. He has also worked as a software engineer for Microsoft and Apple.

What Makes Terra Unique?

Terra seeks to differentiate itself through the use of fiat-pegged stablecoins, stating that they combine the unlimited benefits of cryptocurrencies with the everyday price stability of fiat currencies. It maintains a one-to-one benchmark through an algorithm that automatically adjusts the supply of stablecoins based on their demand. This is done by incentivizing LUNA holders to trade LUNA and stablecoins at favorable exchange rates, as needed, to increase or decrease the supply of stablecoins to match demand.

Terra has forged a number of partnerships with payment platforms, particularly in the Asia-Pacific region. In July 2019, Terra announced a partnership with Chai, a South Korea-based mobile payment app, in which purchases made using apps on an e-commerce platform are processed via Terra's blockchain network. Each transaction is subject to (on average) a 2%–3% fee charged to the merchant.

In addition, Terra is backed by the Terra Alliance, a group of businesses and platforms supporting Terra adoption. In February 2019, the company announced that e-commerce platforms from 10 different countries, representing a user base of 45 million and a total transaction value of $25 billion, were alliance members.

Related Pages:

Learn about Tether, the most popular stablecoin by market cap.

Learn about Zilliqa, another cryptocurrency project seeking to revolutionize the payments sector.

Want to better understand stablecoins? Read an in-depth guide on Alexandria, CoinMarketCap's online educational resource.

Stay up to date on how stablecoins are changing the payments industry with the CoinMarketCap Blog.

How Many Terra Coins (LUNA) Are in Circulation?

Terra has a supply of 1 billion tokens. If this number is exceeded, LUNA will burn until it returns to the equilibrium supply point. The new LUNA tokens are minted via its protocol algorithm, as needed, to maintain the price of the Terra stablecoin.

LUNA was first available for purchase in a private token sale for early investors, which included investment branches of major exchanges such as Binance, OKEx, and Huobi. The sale ended in August 2018, and as a result, Terra raised $32 million. Of the 385,245,974 LUNA printed for sale, 10% is reserved for Terraform Labs, 20% for project employees and contributors, 20% for Terra Alliance, 20% for price stability reserves, 26% for project supporters, and 4% for initial liquidity .

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