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terra.money
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docs.terra.moneyimage.tokeninsight.com
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finder.terra.money
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Ethereum IBC/0xbd...a3dSolana F6v4wfAd...x9W
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CertiK
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About LUNA

What is Terra 2.0 (LUNA)?

Terra is a decentralized, open-source, and public blockchain protocol that employs a Proof-of-Stake consensus mechanism to support decentralized apps (dApps), especially in the DeFi space. LUNA is the native digital asset of the Terra blockchain, which serves as the governance and utility token of the ecosystem.

The original Terra ecosystem collapsed following an attack that depegged the TerraUSD (UST) stablecoin and led to a crash in the price for the original Terra (LUNA) token. The development had caused a loss of over $40 billion from the crypto market, leading its co-founder Do Kwon to devise a revival plan.

When was LUNA 2.0 Launched?

The Terra blockchain in its current form was upgraded after the passing of governance proposal 1623 by its community, leading to the genesis of a brand new blockchain, while the previous one, or Terra 1.0, is now called Terra Classic (LUNC). The acceptance of this proposal by the community resulted in the creation of the updated Terra network on 27 May 2022, also called Terra 2.0, with LUNA (or LUNA 2.0) as its native token.

The mainnet launch of the new Terra blockchain took place on 28 May 2022. The genesis block, the first block on the new mainnet, was created at around 06:00 UTC and was known as Phoenix-1.

Terra 2.0 is not a hard fork of the original Terra blockchain but is a brand new blockchain protocol that will no longer support stablecoins as Terra 1.0 did. According to the Terra Ecosystem Revival Plan by Do Kwon - the founder of Terraform Labs, Terra will go on to support some of the leading dApp projects from the original blockchain and replace the Terra 1.0 network.

Projects and assets running on the original Terra blockchain will not automatically move to the new blockchain but will need to migrate themselves. Some of the leading dApps committed to migrating to Terra 2.0 include Astroport, Prism, RandomEarth, OnePlanet, and Stader.

How Does Terra 2.0’s LUNA Work?

As discussed above, LUNA is the native cryptocurrency used within the Terra ecosystem. It serves the following purposes:

➢ Staking

Users can stake LUNA to become Terra validators and help verify and record new transactions within the blockchain. Their efforts in validating transactions and creating new blocks let them earn rewards in LUNA tokens.

➢ Utility Token

The LUNA coin serves as the currency in which users must pay transaction fees when using the Terra blockchain to send payments. A portion of these transaction fees charged to users goes to pay rewards to validator nodes for verifying transactions and recording them in new blocks.

➢ Governance Token

LUNA holders can participate in voting on proposals for upgrading the Terra network. The voting rights can democratize the future development of the Terra ecosystem and empower them to contribute to how the blockchain evolves.

➢ Crypto Asset to Invest in or Trade

The Terra (LUNA) crypto could also be an attractive digital asset to include in your portfolio. You can buy LUNA 2.0, trade it against other cryptocurrencies and stablecoins, or hold it for a long-term period if you believe in its potential. Always check the latest LUNA price, market cap, 24-hour trading volume, and Terra news before making a new trade decision.

What Happens to the Original Terra and LUNA?

After the mainnet launch of Terra 2.0, the original blockchain from which it has forked has been renamed Terra Classic. Its native token, formerly Terra LUNA, will now be known as Terra LUNA Classic (LUNC).

After rebranding the original blockchain as Terra Classic, it will coexist alongside the new Terra network. The Terra Classic is the original Cosmos chain and will continue to operate with market swap features, letting users mint and burn LUNC tokens.

Designed using the Cosmos SDK and leveraging the Tendermint consensus protocol, Terra Classic will support Terra stablecoins. However, the previous stablecoins backed by the blockchain - UST, KRT, EUT, etc., will now be renamed as Terra Classic stablecoins - TerraClassicUSD (USTC), TerraClassicKRW (KRTC), TerraClassicEUR (EUTC), etc.

Terra Classic’s native token LUNA Classic (LUNC) will be listed for trading as a separate digital asset on leading crypto exchanges worldwide. KuCoin is one platform that supports Terra (LUNA) and Terra LUNA Classic (LUNC) trading.

Where to Buy Terra 2.0 (LUNA)

You can buy Terra LUNA 2.0 on centralized exchanges(CEXs) or swap for LUNA on decentralized exchanges (DEXs) such as Terraswap. You can also buy LUNA via a crypto broker or digital wallet. However, that could incur higher transaction fees in doing so.

Buying Terra 2.0 (LUNA) on KuCoin is simple and straightforward. Follow the steps below to own LUNA tokens in a few minutes.

Register for a KuCoin Account

Download the KuCoin app or navigate to KuCoin.com to sign up with KuCoin as per the instructions. We recommend you complete your Know Your Customer (KYC) verification to enjoy upgraded buying or trading services at KuCoin.

Fund Your Account

Head to then Fast Buy page and convert your fiat currency into USDT. Select one among more than 70 payment options, including Visa, Mastercard, SEPA, and PayPal. Alternatively, you can select the P2P option or buy USDT from third-party sellers on the KuCoin platform to fund your account.

Place Your Order for LUNA/USDT on the Spot Trading Page

Select the LUNA/USDT pair from KuCoin’s Spot Trading section. Check the latest LUNA price, market cap, and 24h trading volume on the chart before placing your buy order. Enter the amount of USDT you want to exchange for LUNA to find out how much LUNA you can buy and details about transaction fees. Place your trade order, and after it executes successfully, your LUNA holdings will be credited into your KuCoin Trading Account.

Buy LUNA With Existing Cryptocurrency Holdings

Alternatively, you can transfer your existing crypto holdings from your wallet into your KuCoin account to get started.

Store LUNA Securely and Make LUNA Holdings Work for You

Upon completion of the LUNA 2.0 purchase, you can hold LUNA securely on KuCoin or transfer it to a cold wallet for the long term. Be careful to keep your private key information securely to access your funds.

You can also make LUNA work for you by investing and trading at KuCoin! Check out KuCoin Crypto Lending if you wish to earn passive income using LUNA crypto. Head to this section to lend liquidity in LUNA to the exchange and earn attractive daily interest over seven days, 14 days, or 28 days.

FAQ

How is Terra 2.0 Different?

Terra 2.0, or the new version of Terra, will no longer support stablecoins in its latest iteration, unlike the previous version, now known as Terra Classic or informally as Terra 1.0. The new Terra blockchain will support only LUNA as the primary digital asset for staking on its ecosystem.

The proof of stake blockchain network features innovative tech such as Mantlemint and Terra Station to offer an ecosystem with high transaction speeds, low transaction costs, and improved network security. The new Terra blockchain is designed to drive DeFi adoption while providing an attractive platform to develop Web 3.0 and NFT-based applications.

The new Terra network is an entirely different brand evolution from Terraform Labs, focusing on being a robust platform for dApps and their developers. On the other hand, Terra 1.0 or Terra Classic will continue to support stablecoins, driving the use of crypto and blockchain for payments worldwide.

Due to the significant difference in circulating supply, the Terra Classic token LUNC price differs vastly from the Terra LUNA price. The launch price of LUNA 2.0 was around $17.80, although the token trades well below this level as of July 2022 amid an uncertain mood in the crypto market. Higher adoption of the Terra ecosystem by dApps and users could drive up the Terra LUNA price and market cap.

Who is Eligible for LUNA Airdrop?

According to the official confirmation by Proposal 1623, holders of the old LUNA (now LUNC) tokens, algorithmic stablecoin UST (now USTC) coins, and pre-attack aUST holders (UST staked on the Anchor Protocol) are eligible to receive airdrops of the LUNA 2.0 token.

The airdrops of the new tokens started immediately after the Genesis block's creation on the new Terra blockchain. 30% of the circulating supply of LUNA will be airdropped to users who held less than 10,000 LUNC before the attack or the de-peg of UST to US dollar. In addition, post-attack holders of LUNC, USTC, or both are eligible to receive airdrops of LUNA crypto.

Terra has also introduced the option of vesting LUNA to be unlocked over two years. The LUNA 2.0 tokens locked in vesting can fetch their holders staking rewards and be delegated to validator nodes within the network.

How to Transfer LUNA to Terra Station

After buying LUNA on KuCoin or other exchanges, you can send your holdings to the native Terra Station wallet. All you need to do is withdraw your funds from your KuCoin trading account and send them to your external wallet.

Select the withdraw LUNA option in your KuCoin account. Enter the amount of LUNA you wish to transfer.

Enter your Terra Station wallet address as the destination address to which you wish to send your LUNA tokens.

Confirm the number of tokens and the withdrawal processing fee KuCoin will charge for the transaction before finalizing the withdrawal.

KuCoin charges a 0.1 LUNA fee on withdrawals, so ensure that you have sufficient funds in your account before withdrawing them to your Terra Station wallet.

What dApps Will Migrate or Redeploy to Terra 2.0?

Projects and assets running on the original Terra ecosystem will not automatically move to the new blockchain but will need to migrate themselves. Some of the leading dApps that have committed to the migration to Terra 2.0 include:

Astroport

Prism

RandomEarth

OnePlanet

Stader

Spectrum

Nebula

Anchor Protocol

84
BBB
Expand
Website
terra.money
Documentation
docs.terra.moneyimage.tokeninsight.com
Explorer
finder.terra.money
Contract
Ethereum IBC/0xbd...a3dSolana F6v4wfAd...x9W
Audited By
CertiK
Code & Community
Investors
Pantera Capital Hashed Arrington XRP Capital Kinetic Capital Coinbase Ventures Galaxy Capital Hashkey

About LUNA

What is Terra 2.0 (LUNA)?

Terra is a decentralized, open-source, and public blockchain protocol that employs a Proof-of-Stake consensus mechanism to support decentralized apps (dApps), especially in the DeFi space. LUNA is the native digital asset of the Terra blockchain, which serves as the governance and utility token of the ecosystem.

The original Terra ecosystem collapsed following an attack that depegged the TerraUSD (UST) stablecoin and led to a crash in the price for the original Terra (LUNA) token. The development had caused a loss of over $40 billion from the crypto market, leading its co-founder Do Kwon to devise a revival plan.

When was LUNA 2.0 Launched?

The Terra blockchain in its current form was upgraded after the passing of governance proposal 1623 by its community, leading to the genesis of a brand new blockchain, while the previous one, or Terra 1.0, is now called Terra Classic (LUNC). The acceptance of this proposal by the community resulted in the creation of the updated Terra network on 27 May 2022, also called Terra 2.0, with LUNA (or LUNA 2.0) as its native token.

The mainnet launch of the new Terra blockchain took place on 28 May 2022. The genesis block, the first block on the new mainnet, was created at around 06:00 UTC and was known as Phoenix-1.

Terra 2.0 is not a hard fork of the original Terra blockchain but is a brand new blockchain protocol that will no longer support stablecoins as Terra 1.0 did. According to the Terra Ecosystem Revival Plan by Do Kwon - the founder of Terraform Labs, Terra will go on to support some of the leading dApp projects from the original blockchain and replace the Terra 1.0 network.

Projects and assets running on the original Terra blockchain will not automatically move to the new blockchain but will need to migrate themselves. Some of the leading dApps committed to migrating to Terra 2.0 include Astroport, Prism, RandomEarth, OnePlanet, and Stader.

How Does Terra 2.0’s LUNA Work?

As discussed above, LUNA is the native cryptocurrency used within the Terra ecosystem. It serves the following purposes:

➢ Staking

Users can stake LUNA to become Terra validators and help verify and record new transactions within the blockchain. Their efforts in validating transactions and creating new blocks let them earn rewards in LUNA tokens.

➢ Utility Token

The LUNA coin serves as the currency in which users must pay transaction fees when using the Terra blockchain to send payments. A portion of these transaction fees charged to users goes to pay rewards to validator nodes for verifying transactions and recording them in new blocks.

➢ Governance Token

LUNA holders can participate in voting on proposals for upgrading the Terra network. The voting rights can democratize the future development of the Terra ecosystem and empower them to contribute to how the blockchain evolves.

➢ Crypto Asset to Invest in or Trade

The Terra (LUNA) crypto could also be an attractive digital asset to include in your portfolio. You can buy LUNA 2.0, trade it against other cryptocurrencies and stablecoins, or hold it for a long-term period if you believe in its potential. Always check the latest LUNA price, market cap, 24-hour trading volume, and Terra news before making a new trade decision.

What Happens to the Original Terra and LUNA?

After the mainnet launch of Terra 2.0, the original blockchain from which it has forked has been renamed Terra Classic. Its native token, formerly Terra LUNA, will now be known as Terra LUNA Classic (LUNC).

After rebranding the original blockchain as Terra Classic, it will coexist alongside the new Terra network. The Terra Classic is the original Cosmos chain and will continue to operate with market swap features, letting users mint and burn LUNC tokens.

Designed using the Cosmos SDK and leveraging the Tendermint consensus protocol, Terra Classic will support Terra stablecoins. However, the previous stablecoins backed by the blockchain - UST, KRT, EUT, etc., will now be renamed as Terra Classic stablecoins - TerraClassicUSD (USTC), TerraClassicKRW (KRTC), TerraClassicEUR (EUTC), etc.

Terra Classic’s native token LUNA Classic (LUNC) will be listed for trading as a separate digital asset on leading crypto exchanges worldwide. KuCoin is one platform that supports Terra (LUNA) and Terra LUNA Classic (LUNC) trading.

Where to Buy Terra 2.0 (LUNA)

You can buy Terra LUNA 2.0 on centralized exchanges(CEXs) or swap for LUNA on decentralized exchanges (DEXs) such as Terraswap. You can also buy LUNA via a crypto broker or digital wallet. However, that could incur higher transaction fees in doing so.

Buying Terra 2.0 (LUNA) on KuCoin is simple and straightforward. Follow the steps below to own LUNA tokens in a few minutes.

Register for a KuCoin Account

Download the KuCoin app or navigate to KuCoin.com to sign up with KuCoin as per the instructions. We recommend you complete your Know Your Customer (KYC) verification to enjoy upgraded buying or trading services at KuCoin.

Fund Your Account

Head to then Fast Buy page and convert your fiat currency into USDT. Select one among more than 70 payment options, including Visa, Mastercard, SEPA, and PayPal. Alternatively, you can select the P2P option or buy USDT from third-party sellers on the KuCoin platform to fund your account.

Place Your Order for LUNA/USDT on the Spot Trading Page

Select the LUNA/USDT pair from KuCoin’s Spot Trading section. Check the latest LUNA price, market cap, and 24h trading volume on the chart before placing your buy order. Enter the amount of USDT you want to exchange for LUNA to find out how much LUNA you can buy and details about transaction fees. Place your trade order, and after it executes successfully, your LUNA holdings will be credited into your KuCoin Trading Account.

Buy LUNA With Existing Cryptocurrency Holdings

Alternatively, you can transfer your existing crypto holdings from your wallet into your KuCoin account to get started.

Store LUNA Securely and Make LUNA Holdings Work for You

Upon completion of the LUNA 2.0 purchase, you can hold LUNA securely on KuCoin or transfer it to a cold wallet for the long term. Be careful to keep your private key information securely to access your funds.

You can also make LUNA work for you by investing and trading at KuCoin! Check out KuCoin Crypto Lending if you wish to earn passive income using LUNA crypto. Head to this section to lend liquidity in LUNA to the exchange and earn attractive daily interest over seven days, 14 days, or 28 days.

FAQ

How is Terra 2.0 Different?

Terra 2.0, or the new version of Terra, will no longer support stablecoins in its latest iteration, unlike the previous version, now known as Terra Classic or informally as Terra 1.0. The new Terra blockchain will support only LUNA as the primary digital asset for staking on its ecosystem.

The proof of stake blockchain network features innovative tech such as Mantlemint and Terra Station to offer an ecosystem with high transaction speeds, low transaction costs, and improved network security. The new Terra blockchain is designed to drive DeFi adoption while providing an attractive platform to develop Web 3.0 and NFT-based applications.

The new Terra network is an entirely different brand evolution from Terraform Labs, focusing on being a robust platform for dApps and their developers. On the other hand, Terra 1.0 or Terra Classic will continue to support stablecoins, driving the use of crypto and blockchain for payments worldwide.

Due to the significant difference in circulating supply, the Terra Classic token LUNC price differs vastly from the Terra LUNA price. The launch price of LUNA 2.0 was around $17.80, although the token trades well below this level as of July 2022 amid an uncertain mood in the crypto market. Higher adoption of the Terra ecosystem by dApps and users could drive up the Terra LUNA price and market cap.

Who is Eligible for LUNA Airdrop?

According to the official confirmation by Proposal 1623, holders of the old LUNA (now LUNC) tokens, algorithmic stablecoin UST (now USTC) coins, and pre-attack aUST holders (UST staked on the Anchor Protocol) are eligible to receive airdrops of the LUNA 2.0 token.

The airdrops of the new tokens started immediately after the Genesis block's creation on the new Terra blockchain. 30% of the circulating supply of LUNA will be airdropped to users who held less than 10,000 LUNC before the attack or the de-peg of UST to US dollar. In addition, post-attack holders of LUNC, USTC, or both are eligible to receive airdrops of LUNA crypto.

Terra has also introduced the option of vesting LUNA to be unlocked over two years. The LUNA 2.0 tokens locked in vesting can fetch their holders staking rewards and be delegated to validator nodes within the network.

How to Transfer LUNA to Terra Station

After buying LUNA on KuCoin or other exchanges, you can send your holdings to the native Terra Station wallet. All you need to do is withdraw your funds from your KuCoin trading account and send them to your external wallet.

Select the withdraw LUNA option in your KuCoin account. Enter the amount of LUNA you wish to transfer.

Enter your Terra Station wallet address as the destination address to which you wish to send your LUNA tokens.

Confirm the number of tokens and the withdrawal processing fee KuCoin will charge for the transaction before finalizing the withdrawal.

KuCoin charges a 0.1 LUNA fee on withdrawals, so ensure that you have sufficient funds in your account before withdrawing them to your Terra Station wallet.

What dApps Will Migrate or Redeploy to Terra 2.0?

Projects and assets running on the original Terra ecosystem will not automatically move to the new blockchain but will need to migrate themselves. Some of the leading dApps that have committed to the migration to Terra 2.0 include:

Astroport

Prism

RandomEarth

OnePlanet

Stader

Spectrum

Nebula

Anchor Protocol