Introduction to Terra Classic (LUNC)
Terra Classic (LUNC) is the native token of the original Terra blockchain, a protocol designed to address cryptocurrency volatility through algorithmic stablecoins. Launched in 2018 by Terra Labs, the network pioneered an elastic monetary policy to stabilize prices while enabling decentralized finance (DeFi) applications.
Key Features of Terra Classic
- Algorithmic Stablecoins: Terra Classic supported stablecoins like TerraUSD (USTC) and TerraKRW (KRT), pegged to fiat currencies via supply adjustments.
- Staking and Governance: LUNC holders could stake tokens to secure the network, earn rewards, and participate in governance.
- DeFi Integration: Protocols like Mirror (synthetic assets) and Anchor (stable yields) were built on Terra Classic.
👉 Explore Terra Classic's ecosystem
How Terra Classic's Mechanism Worked
Terra Classic employed a dual-token model:
- LUNC: Volatile staking/collateral asset.
- Stablecoins: Price-elastic assets (e.g., USTC) balanced via arbitrage and supply changes.
Example: If USTC traded above $1, the protocol minted new USTC using LUNC, increasing supply to restore the peg.
Terra Classic’s Market Performance
| Metric | Value |
|---|---|
| Current Price | $0.0000563 |
| 24h Change | -3.08% |
| All-Time High (ATH) | $119.14 (Apr 2022) |
| Circulating Supply | 6.50 Trillion LUNC |
| Market Cap | $365.72 Million |
FAQs About Terra Classic (LUNC)
Q: What happened to the original Terra blockchain?
A: In May 2022, Terra relaunched as Terra 2.0 (LUNA), while the original chain became Terra Classic (LUNC).
Q: Can LUNC still be staked?
A: Yes, though rewards depend on network activity and validator participation.
Q: What’s LUNC’s max supply?
A: Unlimited, with 6.5 trillion currently circulating.
Conclusion
Terra Classic remains a case study in algorithmic stablecoin design, with active trading and staking despite its 2022 depegging event. Its legacy persists in DeFi innovations and hybrid stablecoin models.
For real-time data and trading, visit 👉 OKX’s LUNC market.
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