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Terra is one of the leading blockchain protocols where users can exchange, spend, or trade algorithmic stablecoins. By consolidating decentralized oracle voting with a crypto arbitrage trading incentive (profiting from buying one type of cryptocurrency on a particular exchange and simultaneously selling it on another exchange), the Terra protocol forges stablecoins to provide governing capabilities and staking benefits. Since its inception, Terra has rapidly expanded a decentralized network of applications that has contributed to the price increase of LUNA and outperformed other platforms.
Who created LUNA?
Terraform Labs created LUNA and the Terra blockchain in 2018. Founding members of Terraform Labs wanted to invigorate the mainstreaming of the cryptocurrency industry by providing stablecoins called fiat-backed stablecoins. Fiat stablecoins are associated with stable assets, like the U.S. dollar, gold or silver. Unlike non-collateralized or crypto-backed stablecoins, fiat stablecoins offer stability and an easily understandable structure.
What happens if Terra cryptocurrency values become detached from the value of their associated fiat currency? Terraform Labs has made it so that users are motivated to exchange LUNA to force Terra to shrink or grow. This almost automatic reaction by the blockchain to possible value detachment means the price reverts to the fiat price. Moreover, holders of LUNA who stake their tokens are rewarded with taxes, seigniorage and gas fees for operating as oracles.
How do I exchange and Trade LUNA?
Rubix has everything you need to exchange and trade LUNA. We have developed a unique, simple-to-use cryptocurrency trading platform that you can access from your smartphone and web browser. With Rubix, you can securely and quickly exchange cryptocurrencies into fiat currency using a rigorously secure, data-encrypted platform and multi-factor authentication.
Exchange LUNA using Rubix
Cryptocurrencies like LUNA are assigned values in blockchains based on how much it costs to produce them. A token’s value minus production cost is called seigniorage. At the beginning of Terra, seigniorage funds supported multiple community enterprises. However, Terra members quickly realized this action caused systemic inflation. Consequently, seigniorage in the protocol is removed to remake LUNA into a deflationary token.
Just like all decentralized cryptocurrencies, LUNA is issued on a blockchain that confirms and validates transactions via a group of validators. Since LUNA is Terra’s native cryptocurrency, holders use LUNA to delegate validators. When a validator is selected as a block producer, the delegators and that validator receive stability and computational fees that accompany each LUNA transaction.
You can exchange and trade LUNA on Rubix using the built-in trading tools.
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