What is Luna coin ? Summary of detailed information about Luna coin

What is Luna coin – Summary of detailed information about Luna coin in 2022

Luna coin is one of many cryptocurrencies on the market today. And before investing in any virtual currency, you also need to learn carefully to make a reasonable decision, in order to minimize risks and improve profits.

Learn about what is Luna coin

What is Luna coin?

Before learning what Luna coin is, we should briefly understand the Terre blockchain? And what is their relationship?

Terra is also a blockchain and it was originally known for international payment applications like Memepay or Chai. These apps use Terra’s UST to pay for orders. However, by October 2020, after implementing the Columbus-4 update, the blockchain of this Cosmos ecosystem officially had a Smart contract and built its own ecosystem. This has helped the value of Luna coin on the market to have a strong growth.

Luna coin is a stablecoin of Terra

Luna coin or Luna token is a native token of each Terra blockchain block. Or in a simpler way Luna coin It is similar to an asset used as collateral for price-stabilizing coins issued on Terra’s protocol. Also, the issuance or burning of Luna tokens will depend on the calculation based on the actual demand for Stablecoins.

Based on this mechanism, Luna coin in the market must always maintain stability. And whether it is issuing or burning coins, there will be a fee incurred. Luna token holders will receive a portion of this generated fee.

Highlights of Luna

Mention Lunacoin There are many highlights and those are the reasons why this virtual currency is receiving more and more attention:

Luna has more outstanding features compared to other coins

Get solid support

Do Terra coin is being supported by TMON, so Luna coin also has a strong support. As far as we know, TMON is currently one of the top 10 e-commerce platforms in Korea. Thus, Terra’s payment currencies, including Lunacoin will have the opportunity to reach up to 40 million customers.

High stability

The second highlight is high stability. The reason is because this coin is issued or burned depending on actual demand, so the price does not fluctuate too much. Furthermore, Luna token holders receive a fair fee.

Assets not liquidated

You may be liquidated when you invest in the Maker DAO model. However, investing in Terra is completely different. Liquidation of assets never happens because Terra allows you to own all kinds of deposit tokens, including Lunacoin and earn more profit from trading fees.

Low transaction fees

Transaction fee Luna coin of Terra is very low and almost zero. Compared to other stablecoins on the market, such as USDC or USDT, the transaction fee of Terra’s stablecoins, including Lunacoin, has a much higher advantage.

Decentralized

Terra is a completely independent network that is not managed or supported by any organization. This means that the same goes for Stablecoins, including Terra’s Luna coin. When possessing decentralization, users will be more empowered and it is difficult for individuals and organizations to manipulate the network.

Luna coin details

Luna coin name, supply, contract

The total initial supply of Luna is expected to be around 994 million tokens. This amount of tokens will be allocated for many purposes. Specifically, there will be about 26% of the total supply Lunacoin will be distributed to project supporters. The remainder will be distributed as follows:

10% allocation to Terraform 20% allocation to Terra Alliance20% allocation to project development participants20% allocation to price stabilization reserve4% used for liquidity purposes

⅔ of the total remaining supply of Luna tokens will continue to be generated on the Terra protocol. There was $32 million raised by Terra in a Lunacoin offering.

Specific information:

Token name: LUNATicker: LUNA Token standard: CW-20 Token type: Utility, Governance Contract: UpdatingTotal supply: 856.142,016 LUNA Circulating supply: 383,022,562 LUNA

Current rate

Below is the exchange rate at the time of writing of Luna coin according to MarketCap. The exchange rate of this virtual currency is subject to constant change. Therefore, to update the exact exchange rate of virtual currency Luna, you can visit MarketCap for reference:

Current rate of Luna coin

How to own and trade Luna coin

Lunacoin cannot be mined like BTC or ETH virtual currency. So if you want to own Luna coin then you can authorize the Validators in the Terra network. Or you can also join major cryptocurrency exchanges like Binance, Kucoin, Huobi, etc. to buy directly.

Roadmap and team of developers

Roadmap of Luna coin

On September 30, 2021, Terra will release the new update Columbus-5, then launch some more projects in its ecosystem. Therefore, in the coming time, there will be a lot of hot information about DeFi and NFT projects.

Team developer / backer of Luna coin

Although Terra is only a small ecosystem of Cosmos and Luna coin is a Stablecoin belonging to Terra, but it attracts a lot of big guys to invest. According to statistics, up to 20 investors chose Terra as soon as the project was launched, notably Coinbase Ventures, Binance Labs, etc. Besides, there are also Zee Prime Capital, Struck Capital, Polychain Capital, TransLink Capital. , Kakao Ventures, Oke Capital.

Terra Co-Founders Daniel Shin and Do Kwon (Terraform Labs)

Closing and Disclaimer

Thus, we have shared with you the most important information about Luna coin and the Terra project already. It can be seen that this is a very interesting coin and has certain differences with other coins existing on the market.

Disclaimer: The information we share here is for reference only. We do not offer any investment recommendations or advice. Therefore, any results that come from your investment in Luna coin we do not take any responsibility!

Currently, the Vietnamese state does not provide legal support for any electronic currency, you still have the right to mine and use it, however, when there is a dispute or conflict, the state has no obligation to assist in resolving these issues. this problem.