Pairs: $LUNA/$BTC, $LUNA/$BUSD, $LUNA/$BNB
Trading Pairs will be launched: August 19th, 10:00 AM (UTC)
Trading Pair will be launched: August 21st, 10:00 AM (UTC)
Lately, many of you have been asking “Sir, when moon? When Binance?!” and we’re excited to announce that LUNA is now listed on Binance! With so much momentum being generated from CHAI integrations, panel discussions, upcoming smart contracts on Columbus-4 mainnet, and the anticipation of the Anchor launch, there has never been a better time to be listed. As our community members can be found all around the globe, we’re happy that LUNA is becoming more and more accessible.
Quite honestly, this listing is only possible thanks to your support and belief in the vision of Terra! Thank you for being an integral part of our community and for journeying with us through various milestones. This is only the beginning for Terra and we look forward to the challenges ahead of us. Onwards and upwards, Terrans!
Find the official LUNA Listing announcement from Binance here.
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.
Luna’s listing on Binance means more global access for those who want to have easier access to Terra’s ecosystem! We are excited to be a part of the Binance family and will be working harder to realizing the goals of an open financial infrastructure that can work better for everyone.
As always, please join us on our communities!
Read the original article here