LUNA is the native utility token of the Terra blockchain ecosystem, a decentralized platform designed to create stablecoins and enable efficient cross-border transactions. The Terra network employs a unique mechanism that uses algorithmic stability to peg its stablecoins to real-world assets, mitigating volatility often associated with cryptocurrencies.
LUNA has a dual role within the Terra ecosystem. It acts as collateral to back the issuance of stablecoins and maintains the stability of the Terra stablecoin family. Additionally, LUNA holders participate in governance, enabling them to propose and vote on protocol upgrades and changes.
The Total Supply of LUNA tokens is 1,078,518,456 pieces, the current circulation is about 360,353,405 pieces, and the market circulation accounts for 33.41% of the total. The current price of a LUNA is $0.4102, a decrease of 75.15% compared to half a year ago. The current total market value of LUNA is $147,894,945, and the FDV is about $442,641,654.
The Terra project was co-founded by Daniel Shin and Do Kwon. The team is composed of experienced developers, economists, and blockchain experts. Their vision is to provide a blockchain infrastructure that enhances global financial systems and makes cross-border transactions more accessible and cost-effective.
