What is Terra Luna cryptocurrency?

The Terra Luna blockchain has its own Luna currency, in the form ofLUNA, as well as the Luna currencies within its ecosystem, the Terra stablecoins. LUNA token: LUNA is the native staking token for the network, as well as being the foundational asset for the entire ecosystem. It has two main functions.

What is Luna (Luna)?

LUNA is a cryptocurrency coin based on the Terra blockchain, which makes it possible to create and exchange digital assets. LUNA is a native token of the Terra blockchain that's used to pay transaction fees and reward other users for participating in the network. LUNA can be used to buy goods and services from businesses that accept such coins.

What is the Luna token?

The LUNA token is one of the ecosystem's key elements, often described as a staking token. The Terra blockchain has implemented a dual-token system between UST and LUNA, where USTs were minted by burning LUNA. If the UST value went above #1, the equivalent LUNA would be burned. It made UST less valuable by minting more UST units.

What happened to Luna crypto?

There are two stories regarding Luna crypto: the TerraUSD/UST stablecoin and the actual Luna coin. Once Luna and UST crashed, there was a total liquidity crunch in the cryptocurrency space that caused an even more catastrophic loss of value. The crypto community still hasn’t recovered.