What is Terra

Terra (LUNA) is a blockchain protocol that uses fiat-pegged stablecoins to enable price-stable global payments systems. Terra states that it combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements. As of September 2021, Terra offers its stablecoins pegged to the U.S. dollar, South Korean won, Mongolian tugrik and the International Monetary Fund's Special Drawing Rights basket of currencies. It intends to roll out additional options in the future. Terra's native token "LUNA" is used to stabilize the price of the protocol's stablecoins. Terra seeks to set itself apart through its use of fiat-pegged stablecoins, stating that it combines the borderless benefits of cryptocurrencies with the day-to-day price stability of fiat currencies. It keeps its one-to-one peg through an algorithm that automatically adjusts the stablecoin supply based on its demand. You can safely and reliably buy and sell LUNA on LiteBit.