Terra LUNA (LUNA) is the native cryptocurrency of the Terra blockchain platform, which aims to facilitate stable global payments using stablecoins linked to fiat currencies. It is a public blockchain protocol used for governance and staking.

More details about Terra LUNA:

Main function:

LUNA is used for governance, staking, and to ensure the price stability of Terra's stablecoins.

Ecosystem:

Terra is a next-generation blockchain payment network that intertwines stablecoins and is powered by LUNA.

Stablecoins:

Terra uses algorithmic stablecoins to combine the price stability of fiat currencies with the censorship resistance of cryptocurrencies.

Terra Classic ($LUNC ):

It is the name of the rebranded version of the original Terra blockchain protocol, which now uses LUNC as the collateralized token.

$LUNC :

LUNC is the token used to absorb the price deviation of the algorithmic stablecoin, UST.

Price stability:

Terra seeks to provide stability by making cross-border payments using stablecoins linked to fiat currencies.

History:

Terra was launched in May 2022, and in May 2022, the genesis block of the new chain, Terra (LUNA)$LUNC , was launched, and the original Terra chain was rebranded as Terra Classic.

In summary: Terra LUNA is a key cryptocurrency within the Terra ecosystem, which aims to facilitate stable global payments through stablecoins and blockchain. Its main function is governance, staking, and price stability of the stablecoins.