Menu
Home
Advertise
Forums
Search forums
What's new
Unread posts
New articles
New article comments
Latest activity
Earn Money
Money apps
Passive Income
Paid Survey
Forex
Stock
Real estate
Paid to write
Social Media Earning
Review Website/Apps
Crytocurrency
Bitcoin (BTC)
Ethereum (ETH)
Crypto Exchange
Mining
Crypto Faucet / Airdrops
Binance
Business
Business strategy
Funding a business
Marketing
Digital Marketing
Social media marketing
Email marketing
Brand management
Personal Finance
Money Saving
Retirement
Personal loan
Savings for Students
Debt help
Tax relief
Insurance
Car Insurance
Life Insurance
Liability Insurance
Home Insurance
Health Insurance
Disability Insurance
FAQ
Log in
Register
What's new
Search
Search
Search titles only
By:
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Money Making Forums
Cryptocurrency Forums
MEXC EXChange Data: Terra (LUNA) — Down to $0 from a high of $119.18.
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
[QUOTE="Venus1100, post: 245961, member: 77634"] According to MEXC Exchange data, LUNA, Terra protocol's native staking and governance token, is trading below $1 on Thursday (May 12), a significant drop from the all-time high of $119.18 set just over five weeks ago. [ATTACH type="full"]53433[/ATTACH] [B]What exactly is Terra?[/B] Terra is a blockchain protocol that powers price-stable global payment systems with fiat-pegged stablecoins. Terra, according to its white paper, combines the price stability and widespread adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and provides quick and affordable settlements. Terra's development began in January 2018, and its mainnet went live in April 2019. As of September 2021, it offers stablecoins pegged to the US dollar, South Korean won, Mongolian tugrik, and the International Monetary Fund's Special Drawing Rights basket of currencies — with plans to expand. The Terra native token, LUNA, is used to keep the price of the protocol's stablecoins stable. LUNA holders can also submit and vote on governance proposals, giving it more power. [B]LUNA's contribution to UST[/B] UST is a stablecoin that is "algorithmic." The LUNA token and UST are mutually dependent, as the Terra ecosystem's success is dependent on the adoption of UST as a stablecoin. LUNA invests in UST and is burned when demand for UST increases. Following upgrades such as Columbus-5, LUNA supply may become highly deflationary in the long run. On the other hand, if UST is perceived as unstable, the value of LUNA may fall. Following the Wormhole hack, UST briefly lost its peg, causing a temporary price crash for LUNA. [B] Why did UST lose its peg to the US dollar?[/B] On Monday (May 9), Aztec Network's Jonathan Wu posted an excellent thread on $UST's de-pegging from the dollar: [ATTACH type="full"]53434[/ATTACH] On Tuesday (May 10), popular pseudonymous crypto analyst "Onchain Wizard" posted a fantastic thread outlining his theory on how $UST was attacked: [ATTACH type="full"]53435[/ATTACH] [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Money Making Forums
Cryptocurrency Forums
MEXC EXChange Data: Terra (LUNA) — Down to $0 from a high of $119.18.
Top