Home Coins Terra (LUNA) $LUNA listed on Binance!. Hey Terrans, | by Sarah Kim | Terra...

$LUNA listed on Binance!. Hey Terrans, | by Sarah Kim | Terra Money | Aug, 2020


Sarah Kim

Terra is a proud member of the Binance Labs portfolio since April of 2019. As Binance Labs stated in their investment announcement of Terra, “this is exactly why Terra is not just another stablecoin, but a better payment network using a price-stable digital currency to complement both existing fiat and cryptocurrencies — “retaining all the censorship resistance of Bitcoin, and making it viable for use in everyday transactions”. Terra is reimagining the payment network.”

Terra has had significant impact within the Korean market demonstrating the effectiveness of its stablecoin mechanism and immediate commercial use-cases resulting in mass adoption. The Chai payments app built on Terra has risen to become one of the most popular applications built with blockchain with over 3% of the South Korean population using Chai to pay for goods and services ranging from Korea’s #1 online travel agency, #1 bookstore, #1 gaming publisher, #1 convenience store, the top e-commerce sites, and many more. As of August 2020, Chai currently has over 1.9 million users, an annual run rate of $1 billion, and has shown an average retention rate of over 80% when used with multiple merchants. Now with Luna’s listing on Binance, the Terra ecosystem will enjoy broader exposure to the global ecosystem and allow it to continue on its mission to truly set money free by building the future of open financial infrastructure.

Luna, as the native staking asset from which the family of Terra stablecoins derive their stability, utility, and value, acts both as collateral for the entire Terra economy and as a staking token that secures the PoS network. Luna can be held and traded as a normal cryptoasset, but can also be staked to accrue rewards in the network generated from transaction fees. Luna can also be used to make and vote on governance proposals.

The family of Terra stablecoins achieve stability through consistent mining rewards with a contracting and expanding money supply. For example, if the system has detected that the price of a Terra currency has deviated from its peg, it applies pressure to normalize the price. Currently, the family of Terra stablecoins include: KRT (Terra stablecoin pegged to Korean Won), UST (Terra stablecoin pegged to US Dollar), MNT (Terra stablecoin pegged to Mongolian Togrog), SDR (Terra stablecoin pegged to IMF SDR), with more being added in the future.




Read the original article here

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
473FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,580FollowersFollow
2,230SubscribersSubscribe
USD - United States Dollar
EUR
1.17
GBP
1.28
CHF
1.08
NOK
0.11
JPY
0.01
CAD
0.75
AUD
0.71

Most Popular

You can now trade on Uniswap without leaving Twitter

Mask Network has launched a trading widget allowing Twitter users to access market data and trade Ethereum-based crypto assets without leaving the platform.Powered by...

Stake SNX on the Optimistic Ethereum L2 testnet!

Synthetix is extremely excited to share the first phase...

Makerdao Vote to Not Compensate Black Thursday Victims Receives Harsh Criticism

Large Makerdao holders decided not to compensate the victims that were liquidated during the unexpected flash crash that took place on March...
bitcoin
Bitcoin (BTC) $ 10,694.37
ethereum
Ethereum (ETH) $ 347.81
ripple
XRP (XRP) $ 0.232811
tether
Tether (USDT) $ 0.999924
bitcoin-cash
Bitcoin Cash (BCH) $ 214.86
bitcoin-cash-sv
Bitcoin SV (BSV) $ 153.92
litecoin
Litecoin (LTC) $ 44.63
eos
EOS (EOS) $ 2.53
binancecoin
Binance Coin (BNB) $ 24.66
okb
OKB (OKB) $ 6.16
tezos
Tezos (XTZ) $ 2.19
leo-token
LEO Token (LEO) $ 1.24
cardano
Cardano (ADA) $ 0.086542
monero
Monero (XMR) $ 92.06
stellar
Stellar (XLM) $ 0.070931
chainlink
Chainlink (LINK) $ 9.92
huobi-token
Huobi Token (HT) $ 4.61
tron
TRON (TRX) $ 0.026219
usd-coin
USD Coin (USDC) $ 0.999988
dash
Dash (DASH) $ 67.81
neo
NEO (NEO) $ 22.67
iota
IOTA (MIOTA) $ 0.246321
nem
NEM (XEM) $ 0.106698
zcash
Zcash (ZEC) $ 54.49
maker
Maker (MKR) $ 488.50
paxos-standard
Paxos Standard (PAX) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 4.99
vechain
VeChain (VET) $ 0.012460
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX Token (FTT) $ 3.64
kucoin-shares
KuCoin Shares (KCS) $ 1.04
waves
Waves (WAVES) $ 2.38