Terra (blockchain)
Blockchain protocol and payment platform / From Wikipedia, the free encyclopedia
Not to be confused with Terra (proposed currency).
Terra is a blockchain protocol and payment platform used for algorithmic stablecoins. The project was created in 2018 by Terraform Labs, a startup co-founded by Do Kwon and Daniel Shin. It was best known for its Terra stablecoin and the associated LUNA reserve asset cryptocurrency.
Quick Facts Developer(s), Initial release ...
Developer(s) | Terraform Labs |
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Initial release | 24 April 2019[citation needed] |
Website | terra |
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In May 2022, the Terra blockchain was temporarily halted after the collapse of the stablecoin TerraUSD (UST) and LUNA, an event that wiped out almost $45 billion in market capitalisation within a week.[1][2] On January 21, 2024, the company filed for bankruptcy.[3]