Terra

Terra LUNA

$0.3006
Market Cap $ 116.012 MM (#102)
24h Volume $ 1.545 MM
Chg. 24h: 1.43%
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Terra project purpose and description

Terra clarity of purpose

Terra purpose and aspects

Terra describes itself as a price-stable cryptocurrency aimed at mass adoption. It is backed by Luna, the mining token that powers Terra’s DPoS blockchain.

Short description

Terra - Our mission is to free people from the hidden fees embedded into everyday payments. We strip away these inefficiencies by harnessing the power of blockchain technology.

Abstract

While many see the benefits of a price-stable cryptocurrency that combines the best of bothfiat and Bitcoin, not many have a clear plan for the adoption of such a currency. Since thevalue of a currency as a medium of exchange is mainly driven by its network effects, a successfulnew digital currency needs to maximize adoption in order to become useful. We propose acryptocurrency, Terra, which is both price-stable and growth-driven. It achieves price-stabilityvia an elastic money supply, enabled by stable mining incentives. It also uses seigniorage createdby its minting operations as transaction stimulus, thereby facilitating adoption. There is demandfor a decentralized, price-stable money protocol in both fiat and blockchain economies. If such aprotocol succeeds, then it will have a significant impact as the best use case for cryptocurrencies.

Link to Roadmap: n/a
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