Buy Terra Luna Classic (LUNC)
What is Terra Luna Classic?
Terra Luna Classic (LUNC) is the original native governance token of the Terra ecosystem. It was initially known as Terra (LUNA) before the disastrous UST/Luna collapse, which led to the establishment of a new Terra chain. It serves various purposes within the Terra ecosystem and continues to operate as a community-driven blockchain platform distinct from the new Terra chain.
How does Terra Luna Classic work?
Terra Luna Classic operates on a blockchain protocol designed to utilise fiat-pegged stablecoins to power price-stable global payment systems. It uses a Proof of Stake (PoS) consensus mechanism, which allows token holders to stake their tokens for transaction validation and governance participation. LUNC acts as a stabiliser within the ecosystem through mechanisms like burning and minting, which help maintain the value of its algorithmic stablecoin when it was operational. The platform also supports smart contracts, enabling a wide range of decentralised applications.
What are the potential use cases for Terra Luna Classic?
Terra Luna Classic has several potential use cases, including:
- Cross-Border Payments and Remittances: LUNC is used for low-fee, fast-settlement cross-border transactions.
- Decentralised Finance (DeFi): It powers DeFi platforms through staking, borrowing, and lending.
- Asset Management: LUNC serves in asset management tools and digital identity verification processes.
- E-commerce: The token is integrated as a payment method within e-commerce platforms.
- Financial Services: It underpins services offering stablecoins pegged to various fiat currencies.
What is the history of Terra Luna Classic?
Terra Luna Classic was developed by Terraform Labs, co-founded by Do Kwon and Daniel Shin in 2018 in Seoul, South Korea. It was launched in April 2019 and became known for its algorithmic stablecoin, TerraUSD (UST). The token gained significant market attention but suffered a dramatic collapse in May 2022 due to issues with UST, leading to the rebranding of the blockchain to Terra Classic and the introduction of a new token on a separate chain (LUNA 2.0). Since then, Terra Luna Classic has focused on community-driven development, with various upgrades to improve security and transaction efficiency.
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The information presented in this comparison table is for educational purposes only and is not an investment recommendation for your personal circumstances. Past performance is not an indicator of future performance.
The data points in this table are sourced as follows: ASX200 from Google’s ASX200 index price, Gold from ABC Bullion’s website (abc bullion.com.au), and BTC from CoinGecko (coingecko.com.au). All data is recorded at 10 am AEST on the first day of each calendar month.
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Frequently Asked Questions (FAQs)
What is the current price of Terra Luna Classic (LUNC)?
The Terra Luna Classic price is $0.00018725 AUD, representing a +1.62% from the day prior.
Where is the best place to buy Terra Luna Classic (LUNC) in Australia?
The best place to buy Terra Luna Classic (LUNC) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Terra Luna Classic (LUNC) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Terra Luna Classic (LUNC)?
The trading volume of Terra Luna Classic (LUNC) is $39.2M AUD in the last 24hrs, representing a +1.62% from the day prior.
How can I buy Terra Luna Classic (LUNC)?
Terra Luna Classic (LUNC) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Terra Luna Classic (LUNC)?
The current market cap of Terra Luna Classic (LUNC) is $1.0B AUD.
Can I convert Terra Luna Classic (LUNC) to cash?
Yes - With Coinstash you can convert your Terra Luna Classic (LUNC) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Terra Luna Classic (LUNC) are there?
The current circulating supply of Terra Luna Classic (LUNC) is 5.5T.
Is Coinstash a safe place to buy Terra Luna Classic (LUNC) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Terra Luna Classic (LUNC) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.