Buy Terra V2 (LUNA), it’s easy!

Why follow the Terra V2 (LUNA) price?

Consider buying Terra V2 (LUNA) if you believe in the revival of a project reborn from the ashes of its predecessor. Many decentralised applications (DApps) from the original ecosystem have migrated to this new version. Several developers have ported their codes and are working on Terra’s new blockchain. However, the DApps had to forgo the algorithmic stablecoin UST.

The fork crucially removed TerraUSD (UST), which is likely the cause of the original project’s downfall; nevertheless, this algorithmic stablecoin still exists as TerraClassicUSD (USTC) on Terra Classic. LUNA maintains its Proof-of-Stake consensus mechanism: by staking your crypto, you can validate transactions on the Terra blockchain. LUNA2 holders also have the opportunity to engage in governance processes, either by voting or proposing ideas.

You can also buy Terra V2 (LUNA) if you’re particularly fond of a development team working on the network and believe in their ability to rejuvenate it.

What is Terra V2 (LUNA), and how did It emerge?

LUNA 2.0 emerged following the failure of the UST algorithm, the stablecoin pegged to the US dollar that regulated LUNA’s supply. This peg mechanism converted UST into LUNA, and vice versa, to maintain the stablecoin’s value at 1$. However, in May 2022, a series of events led to a combined price collapse of UST and LUNA.

Do Kwon, the founder of the Terra project, suggested a blockchain fork to the LUNATICs community, and 66% of voters supported this proposal. Consequently, on May 27, 2022, the new Terra blockchain was created, and the distribution of the new LUNA cryptocurrency was planned, rewarding holders of the old UST and LUNA according to specific criteria.