Terra

LUNA Rank #623

$0.0515▲ 1.39%24h

Low $0.0508High $0.0516

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Market cap$36.58MRank #623

Fully diluted value$61.15M

Volume (24h)$2.54MVol / Mcap 6.95%

Circulating supply709.98MLUNA

Total supply1.19B

Max supply∞no hard cap

All-time high$18.87May 28, 2022

All-time low$0.0393Jul 29, 2026

What is Terra?

Origins and distribution

The new chain uses the phoenix-1 network identifier. It was established after Terra Classic governance approved a revival proposal. Its initial supply was one billion LUNA. Distribution included the community pool and airdrops to eligible holders from the earlier network. The airdrops used snapshots taken before and after the stablecoin depeg.

Network operation

Terra uses proof-of-stake consensus. Validators record transactions and maintain the chain's state. Holders delegate LUNA to validators and receive protocol staking rewards. Delegated stake also determines participation in governance. Validator misconduct can trigger penalties under the staking rules.

Applications and identity

LUNA pays transaction fees for transfers and application execution. The chain hosts smart contracts and decentralized financial applications. Terra's tooling includes Station wallet interfaces and development frameworks. The new network omitted the original algorithmic stablecoin market mechanism. LUNA on phoenix-1 is distinct from LUNC on Terra Classic.