Terra Classic LUNC Price 0.00016403

What is Terra Classic?
Terra uses stable coins to power global payments systems.
Terra's mainnet officially launched in April 2019.
The original Terra Chain was changed to Terra Classic on May 28, 2022. The original native token has been changed to LUNA Classic. All network stable coins have been renamed to Terra Classic stable coins.
There is a theory that the additional term "classic" is a reference to the split of the ethereum token.

What is Luna Classic?

The native token was used to absorb the price deviation of the stable coin. To balance the supply and demand of the coin, the price was pegged to the US dollar by minting and burning UST token. UST collapsed after losing its peg.
The breakdown of the Terra Crash is here.
What is the difference between Terra and Terra Classic?
The implementation of a proposal called Terra Ecosystem Revival Plan 2 gives both versions of the token the right to exist.
The recovery plan states that the existing chain and token have been renamed Terra Classic.

Who are the founding fathers of Terra Classic?
Daniel Shin and Do Kwon founded Terra. The two conceived of the project as a way to drive the rapid adoption of the technology through a focus on price stability and ease of use.
Shin co-founded and headed Ticket Monster, a major South Korean e-commerce platform.
He was the CEO of Anyfi, a startup that provided wireless mesh networking solutions.

What makes Terra Classic unique?
Terra wants to set itself apart through its use of stable coins, which it says combine the benefits of cryptocurrencies with the price stability of fiat currency. It keeps its one-to-one peg through an automatic adjustment of stable coin supply.
In the Asia-Pacific region, Terra has established partnerships with payment platforms. Terra and Chai, a South Korea-based mobile payments application, announced a partnership in July of 2019.
The Terra Alliance is a group of businesses and platforms advocating for the adoption of Terra.

Terra Classic has a role in UST.
The success of the Terra platform is dependent on the adoption of UST as a stable coin. When demand for UST increases, LUNA is burned.
If UST is perceived to be unstable, the value of LUNA can decrease.
UST Classic fell to as low as $0.044 in May 2022, after a series of bank runs from investors pulling their funds out. The LUNA Classic crashed over 99%.

There are pages related to this.
You can read about Terra and TerraClassicUSD.
You can read about Tether andUSDC.
What is a stable coin?
You can find the top stablecoin token by market cap.

How many Terra Classic coins are in circulation?
The total supply of Terra Classic is 6.9T, and there are 6.5T LUNC in circulation.

How is the Terra Network secured?
Terra is secured using a proof-of-stake consensus method, in which LUNA token holders stake their token as collateral to verify transactions, receiving rewards in proportion to the amount of LUNA staked. The tokenholders may share any revenue generated.
CertiK completed a security audit of the network after Terra's mainnet went live. It looked at its economic model to see if it could be tested against market manipulation.

Where can you buy Terra Classic?
Terra Luna was supported in the past by most exchanges, but now they support Terra Classic.
Do you want to keep track of LUNC?
Have a look at the glossary.