Terra Classic is a cryptocurrency with a stable price designed for mass adoption, and at the moment, it is already a full-fledged financial infrastructure for next-generation decentralized applications.
Project Features:
- A protocol that ensures the price stability of cryptocurrencies by algorithmically expanding and reducing the supply. Terra can support the global payment network by linking with major world currencies.
- The network is focused on creating a medium of exchange that can be freely used on various e-commerce platforms. According to the developers, a currency that cannot be freely spent has no value.
- Seigniorage is a particular scaling system. When user activity increases, the system automatically issues Terra tokens and converts them into a LUNC token. Seigniorage is the value of the newly minted currency minus the cost of the issue (which, in this case, is zero). Part of the earned LUNC system burns, reducing production volumes.
- Creation of conditions for financial innovations. Terra plans to become an open platform for fundamentally new financial dApps and thereby increase the real GDP of the blockchain economy.
Terra is modernizing the traditional payment system with a single efficient blockchain. This provides the following benefits:
- Reducing operating costs.
- Instant calculation.
- Regular discounts.
The Terra payment network is backed by a family of stablecoins pegged to major fiat currencies. They are based on a protocol designed to always algorithmically maintain price stability by expanding or contracting the money supply. A stakeable LUNC token backs the stablecoin network. LUNC stakers are rewarded with network commissions and seigniorage as a reward for providing stability and security.