Terra

Overview of Terra (LUNA)

Terra is a decentralized and open-source public blockchain protocol that has recently undergone significant changes with the launch of Terra 2.0 by Terraform Labs. As a part of the governance proposal 1623, the new blockchain retains the name Terra and introduces a fresh ecosystem for developers and users alike.

Key Features

The native staking token of the Terra protocol is LUNA, which plays a crucial role in governance and mining. Holders of LUNA can stake their tokens to validators, who are responsible for recording and verifying transactions on the blockchain. In return, stakers earn rewards from transaction fees, creating a robust incentive structure.

Transition to Terra 2.0

Unlike its predecessor, the new Terra 2.0 chain will not include a stablecoin. Existing holders of the old Terra Classic chain will receive an airdrop of the new LUNA native coins, ensuring a smooth transition for the community. Developers are encouraged to migrate and deploy their decentralized applications (dApps) on this new blockchain, fostering innovation and growth within the ecosystem.

Ecosystem and Community

Terra is a part of several significant portfolios, including those of Pantera Capital, Binance Labs, and Delphi Ventures. It operates within various ecosystems like Cosmos, Osmosis, and DeFiance Capital, showcasing its versatility and integration potential. The passionate community around Terra, often referred to as the #LUNAtics, plays an essential role in shaping the future of the platform.

Developer Resources

Terra provides a comprehensive suite of developer tools and resources, enabling the creation of innovative Web3 products and services. The platform is built on the Cosmos SDK and employs the Tendermint Consensus mechanism, ensuring high scalability and security.

Join the vibrant Terra ecosystem to explore diverse applications, contribute to existing projects, or develop new ones. The community is actively engaged in various initiatives, including hackathons and funding opportunities through the Luna Foundation Guard.