$0.00004546
-0.000001420 (-3.03%)24H
Terra Classic price, last 12 months
0.00011500.000045490.00002671
Terra Classic market data
- 24H High
- $0.00004913
- 24H Low
- $0.00004546
- 24H Volume
- 37.19B LUNC
- All Time High
- $0.0006480
- All Time Low
- $0.00001588
- Correlation with BTC
- 0.00
- Return on Investment
- -91.22%
- Market Cap
- $251.44M
About Terra Classic
Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements.Development on Terra began in January 2018, and its mainnet officially launched in April 2019. As of September 2021, it offers stablecoins pegged to the U.S. dollar, South Korean won, Mongolian tugrik and the International Monetary Fund's Special Drawing Rights basket of currencies — and it intends to roll out additional options.On May 28, 2022, the genesis block of the new chain was launched to conduct future transactions under the name Terra (LUNA), and the original Terra Chain was rebranded as Terra Classic. The original native token — LUNA has also been renamed as LUNA Classic (LUNC). Moreover, all network stablecoins (UST, KRT, EUT) have been renamed to Terra Classic stablecoins (USTC, KRTC, EUTC). There will be no Terra stablecoins on the new chain.There is a theory that the additional term “classic” is a reference to the Ethereum / Ethereum Classic split in 2017. According to CEO, Do Kwon, the collapse of UST in the spring of 2022 is the equivalent moment of the Ethereum’s DAO hack that took place in 2017.
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Terra Classic whitepaper summary
Terra Classic is a blockchain platform that emerged from the original Terra ecosystem after its significant transformation in 2022. While maintaining its original vision from the whitepaper of creating a new digital economy through stablecoin protocols and smart contracts, it now operates as a community-driven network. The platform continues to focus on making digital transactions more accessible and efficient by providing stable cryptocurrencies and enabling fast, low-cost payments and financial applications, though with revised tokenomics and governance structures.
Terra Classic maintains its foundation in the original whitepaper's dual-token system, where Luna Classic (LUNC), the native token, works alongside Terra stablecoins to maintain price stability.
The platform operates through a proof-of-stake consensus mechanism, where validators help secure the network by processing transactions and maintaining the blockchain. The minimum staking requirement and validator selection process have been updated to enhance network security and decentralization.
The smart contract platform remains a core feature, enabling developers to build decentralized applications (dApps). These applications now include enhanced security measures and updated protocols following the 2022 ecosystem changes.
The oracle mechanism continues to provide real-world price data to the network, though with improved validation requirements and more stringent security measures. Validators must meet updated criteria for submitting and verifying price information, ensuring greater accuracy and reliability.
Luna Classic (LUNC) maintains its role as the backbone of the Terra Classic ecosystem, though with significant changes to its tokenomics structure.
The governance system has been enhanced, with LUNC holders able to participate in a more decentralized decision-making process. Voting power is still proportional to staked tokens, but with new parameters to prevent concentration of power.
The stability mechanism for Terra stablecoins has been modified following the 2022 events. While the basic principle of burning LUNC to mint stablecoins remains, additional safeguards and limitations have been implemented.
Staking rewards now follow a revised distribution model, with updated inflation rates and reward structures. These changes aim to provide sustainable long-term incentives while managing token supply effectively.
A tax burn mechanism has been implemented on all on-chain transactions, helping to reduce the total supply of LUNC over time.
Terra Classic operates as a fully decentralized protocol, maintained by its global community through democratic governance processes.
The development ecosystem consists of multiple independent teams and contributors, each focusing on different aspects of the protocol's maintenance and improvement.
Validators play an enhanced role in network governance and development, with stricter requirements for participation and increased responsibilities.
The project benefits from an active developer community that continues to propose and implement improvements through a transparent governance process.
Community-led working groups focus on specific aspects such as protocol development, marketing, and ecosystem growth, ensuring coordinated progress across all areas.
Latest Terra Classic news
Terra Classic FAQ
Terra Classic (LUNC) is trading at $0.00004546, down 3.03% over the last 24 hours.
The market cap of Terra Classic is $251.44M, ranking #120 among cryptocurrencies.
Our model's year-end 2026 target for LUNC is $0.00002741.
Our model's 2030 target for LUNC is $0.000002290.
On the daily chart LUNC currently shows 3 buy signals and 4 sell signals. This is not investment advice.
The all-time high of LUNC is $0.0006480.
This page is for informational purposes only and is not investment advice. Cryptocurrency prices are highly volatile.