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Terra

Terra (LUNA) is a public blockchain protocol that emerged from Terra Classic. Due to limited liquidity, LUNA sell orders will not be accepted from 10:51 PM - 11:11 PM CT. Please submit your orders outside of this window.

On Thurs. May 25, Terraform Labs announced that the Terra community had approved the creation of a new blockchain, Luna 2.0. The creation of this new chain is a response to unprecedented volatility on the Luna 1.0 chain, which caused the price of the original LUNA and UST to collapse almost to zero. 

As part of the migration, the former asset LUNA will become Luna Classic, or LUNC. A portion of LUNA holders will be eligible to receive an airdrop of the new token (LUNA), per the terms outlined by Terraform Labs.

The new Terra blockchain will utilize the new LUNA, and will not include the UST stablecoin. 

On 9 May, after nearly 18 months of steadily holding its value against the US dollar, the so-called stablecoin TerraUSD (UST) became unpegged. The uncoupling triggered a cascade response that ultimately crashed UST and the Terra (LUNA).

TerraUSD (UST) is a stablecoin, which means it is a cryptocurrency pegged to a fiat currency. In this case, it is designed to be pegged to the US dollar. Stablecoins are intended to allow investors to hold crypto assets with less volatility, and trade a dollar equivalent without needing to cash out their positions. 

UST is considered an algorithmic stablecoin because instead of being backed by assets such as cash or cash equivalents, it is supported by on-chain code that facilitates a change in the supply and demand between UST and LUNA.

LUNA is the cryptocurrency that works in unison with UST in an effort to keep UST in 1:1 parity with the US dollar. One dollar of LUNA can always be converted at a 1:1 ratio to 1 UST. 

For example, if LUNA is trading at $10, then it can be redeemed for 10 UST, and 10 UST can be redeemed for 1 LUNA. If UST rises above its $1 peg to $1.01, then traders can swap 1 USD of LUNA for 1 UST. This trade burns 1 LUNA and mints 1 UST, which can then be sold for 1.01 USD. 

If UST rises to $1.02, then traders can sell for a 2 cent profit, and so on. 


In theory, increasing the supply of UST and lowering the supply of LUNA brings the price of UST back down until it reaches $1. Conversely, if UST drops below the $1 peg, then traders will be incentivized to buy 1 UST for 0.99 USD, which can then be swapped for 1 LUNA. 

This move burns UST and mints LUNA, sending UST higher towards the $1 peg.

UST lost its peg to the dollar starting on May 8th following large withdrawals of UST from Terra’s DeFi protocol Anchor. UST fell quickly, and struggled to regain its peg because the burning of UST and minting of LUNA couldn’t keep up. 

UST descended rapidly as the prolonged de-pegging led to uncertainty and a snowball effect of larger withdrawals. 


A significant share of circulating UST was locked on Anchor, a Terra-based lending and borrowing protocol that paid users 19.5% to stake UST. 

The LFG used up about $2.9 billion of its bitcoin reserves in an unsuccessful attempt to revive UST. 

WSJ 
Decrypt 
Bloomberg

*This content is for educational purposes and is not investment advice.

The price of LUNA, the native token of the Terra blockchain, has hit new lows this morning. The post LUNA hits new lows as Kwon pursues plan to restore UST peg appeared first on The Block.

LUNA hits new lows as Kwon pursues plan to restore UST peg

The last 24 hours have been some of the most dramatic that we've seen in crypto in a long time.

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The situation surrounding TerraUSD is complicated and has unfolded exceedingly fast. Here's what you should know so far. The post Terra, Luna and UST: How we got here appeared first on The Block.

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UST is just one of many algorithmic stablecoins on the market. Here's their path forward, according to stablecoin experts.

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Stakeholders rushed to Twitter this morning to head off any damage caused by Terra's stablecoin and native token cratering.

Crypto Firms Quick to Announce No Exposure to UST, LUNA

Terra founder Do Kwon has revealed a plan to rebuild the project's ecosystem following LUNA's 99% collapse from its all-time high to below $1 and TerraUSD (UST) losing its dollar peg. In a Twitter thread, Kwon tells his 532,000 followers that he intends to work with the Terra community to “weather the crisis” and get […] The post LUNA Collapses to $0.69 As Terra Founder Do Kwon Outlines Plan To Rebuild Ecosystem appeared first on The Daily Hodl.

LUNA Collapses to $0.69 As Terra Founder Do Kwon Outlines Plan To Rebuild Ecosystem

Decentralized finance (defi) protocols are having a hard time weathering the storm, as the total value locked in defi today is down 39.26% since April 3, from $230.18 billion to the current $139.81 billion. The sudden value drop stemming from Terra's native assets, LUNA and UST, has pushed Lido down to the third-largest TVL position […]

Terra Fiasco Stirs Value Locked in Defi — Lido, Anchor Plummet to Lower Positions

Investors in the Terra crypto ecosystem have taken to social media amid major price declines in LUNA and UST. The post Amid Terra crypto turmoil, ordinary investors start to pick up the pieces appeared first on The Block.

Amid Terra crypto turmoil, ordinary investors start to pick up the pieces

During the last few days, the crypto economy has been tumultuous as billions have fled the market in search of safety. The issues with LUNA sparked a significant sell-off as Terra's native digital asset dropped 97% in value against the U.S. dollar in 24 hours. Terrausd has slipped 67% lower than the $1 parity and […]

Stablecoin Implosion — LUNA and UST Lose Significant Value, Downturn Ripples Across the Crypto Economy

Anchor Protocol's token called Anchor (ANC) has lost more than 70% in the last day due to UST and Luna's struggles. The post Anchor token plunges 70% amid worsening UST and Luna crisis appeared first on The Block.

Anchor token plunges 70% amid worsening UST and Luna crisis

While Terra's UST trades more than $0.75 from its dollar peg, the currency responsible for maintaining that peg, LUNA, is also in freefall.

As Terra's Dollar Stablecoin UST Collapses, LUNA Falls 97% to Under $1

Luna, which has been in freefall along with its related stablecoin TerraUSD (UST), fell below $1 on Wednesday.  The post Luna price falls below $1 as UST de-peg continues appeared first on The Block.

Luna price falls below $1 as UST de-peg continues

Following a day in which teetering stablecoin TerraUST (UST) bounced around $.90, it resumed its free-fall overnight to approach $0.30 before recovering partly to $.43 this morning. LUNA has lost almost 99% of its value

Luna Nosedives Under $2, Loses 98% Of Its Value As TerraUST Struggles To Regain Its Dollar Peg

Investors who have staked their Luna tokens won't be able to sell for 21 days. The post As Luna holders watch the token slide, many won't be able to cash out for weeks appeared first on The Block.

As Luna holders watch the token slide, many won't be able to cash out for weeks

Breaking Twitter silence, Do Kwon of Terraform Labs has issued a new proposal in hopes of repegging the ecosystem's native stablecoin UST.

Terraform Labs CEO Do Kwon Outlines Terra's Path Forward for LUNA, UST Stablecoin

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Maker Explodes 30% Overnight as Terra's UST Stablecoin Struggles

Terraform Labs founder Do Kwon said Wednesday the company is supporting a community proposal that could help TerraUSD (UST), a stablecoin pegged to the U.S. dollar, regain its peg.

Kwon said Terra endorses a community proposal that seeks to bring UST back to its intended $1 peg.

Do Kwon has urged holders of LUNA to “stay strong,” as the price moves ever closer to zero. Following the UST stablecoin losing parity with USD, prices have plunged, falling to a new low this morning. LUNA, UST Tumble Toward Zero As of writing, LUNA/USD is trading at $5.45, which is marginally higher than its […]

LUNA, UST Move Closer to Zero, as Do Kwon Asks Holders to ‘Stay Strong'

South Korea's major exchanges have issued warnings about trading of Luna following the crypto's current price downturn. The post Korean crypto exchanges issue warnings about trading Luna appeared first on The Block.

Korean crypto exchanges issue warnings about trading Luna

Terra is a Cosmos-based protocol that powers a suite of algorithmic stablecoins, which aim to maintain their pegs using a coin called LUNA.

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Though Bitcoin appears to have stabilized near $30,000 a coin, Terra's stablecoin continues to crash. Now, it's trading at around $0.50.

UST Stablecoin Falls To $0.30 Overnight as Terra's Market Woes Continue

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Bitcoin﻿ and cryptocurrency markets have fallen sharply after the controversial algorithmic stablecoin TerraUSD (UST) dropped further from its dollar peg...

Going ‘To Zero'—Panic Is Sweeping Crypto Markets, Hitting The Price Of Bitcoin, Ethereum, BNB, XRP, Cardano, Solana, Terra's Luna And Avalanche

The prices of Luna (LUNA) and its related stablecoin TerraUSD (UST) are in freefall, straining the entire project. The post Luna price collapses below $5 as UST slides further from dollar peg appeared first on The Block.

Luna price collapses below $5 as UST slides further from dollar peg

The embattled executive has been criticized after falling silent for almost 24 hours as the crisis engulfing his blockchain's two flagship cryptocurrencies worsened.

UST Plummets to $0.38 and LUNA Falls 82% in 24 Hours as Do Kwon Fails to Deliver 'Recovery Plan'

The price of LUNA continued to spiral downward.

News for Terra Crypto (LUNA)