Terra luna blockchain

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Users mint new Terra by worth increases as well. These include white papers, government data, original reporting, and interviews.

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LUNA Is Crashing... Here's Why.
Kwon and Shin built Terra to offer users the stability of fiat currencies while harnessing the power of blockchain technology for settlements that were faster. Terra (LUNA) is a public blockchain protocol that emerged from Terra Classic. Terra Classic is home to the algorithmic stablecoin TerraClassicUSD (UST). Terra is a blockchain protocol and payment platform used for algorithmic stablecoins. The project was created in by Terraform Labs.

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Some of those investors sold their Luna and TerraUSD coins early, reaping substantial profits, while retail traders now grapple with devastating losses. The founders attempted to stabilize its price with cash infusions and by adjusting protocols to reduce supply. Securities and Exchange Commission. On 25 May, a proposal was approved to reissue a new Luna cryptocurrency and to decouple from and abandon the devalued UST stablecoin.