Terra 

LUNA Price

What is the Terra (LUNA) coin?

Terra (LUNA) is a layer-1 proof-of-stake blockchain built on the Cosmos SDK with Tendermint consensus. The network launched in May 2022 through a community governance vote (Proposal 1623) after the original Terra chain failed. LUNA is the native coin of the new chain and carries three functions: staking, gas payment, and governance. Terra 2.0 operates without an algorithmic stablecoin.

Why did the original Terra (LUNA) network collapse?

The original Terra collapsed when UST, its algorithmic stablecoin, lost its dollar peg in May 2022. The death spiral erased roughly $50 billion in value and took down the LUNA token of that chain. The community then voted to relaunch the network as a new chain. The old chain was renamed Terra Classic with the ticker LUNC, and the new chain kept the LUNA ticker.

Is Terra (LUNA) a stablecoin?

No. LUNA is the native coin of a proof-of-stake blockchain and serves as its staking, gas, and governance asset. The stablecoin in the Terra system was UST, which lived on the original chain and collapsed with it. Terra 2.0 includes no algorithmic stablecoin, so LUNA's value is not tied to any peg mechanism.

What is Terra's relationship to Terraform Labs and Do Kwon?

The SEC charged Terraform Labs and its co-founder Do Kwon with fraud in 2023. Terraform Labs filed for Chapter 11 bankruptcy in January 2024 and has since wound down completely. Terra 2.0 now runs as community and validator-operated infrastructure. Development is coordinated through public documentation and on-chain governance, with no corporate entity directing the roadmap.

Does LUNA have a maximum supply?

LUNA has no fixed maximum supply. The network mints new LUNA continuously as staking and block rewards, so circulating supply grows over time. Terra 2.0 has no burn mechanism or capped emission schedule, which makes dilution a persistent structural factor for holders. Supply growth on the chain is continuous rather than event-driven.

What does Terra (LUNA)'s vesting schedule mean for investors?

Per DropsTab vesting data, the token generation event took place on December 21, 2022, with the full 300,000,000 LUNA community pool unlocking on day one alongside 30% of each airdrop bucket. The remaining share of the four airdrop buckets vests in small daily linear tranches that began June 21, 2023. This schedule lands on top of uncapped staking emission, so sell-side supply pressure is continuous rather than cliff-driven.

Which groups qualified for the May 2022 LUNA rebirth airdrop?

The rebirth airdrop distributed 1 billion LUNA based on holdings snapshots taken before and after the UST collapse. Eligible groups: 35% to pre-attack LUNA holders, 15% to post-attack UST (USTC) holders, 10% to post-attack LUNA holders, 10% to pre-attack aUST holders, and 30% to the community pool. The distribution completed with the chain re-genesis. DropsTab lists no active campaign for Terra 2.0.

Who backed Terra before the collapse?

Terraform Labs raised $134.5M across five rounds: a $10M Pre-Seed (May 2018), $23M Seed (October 2018), $14.5M Private Sale (October 2018), $62M ICO (January 2019), and a $25M Venture round (January 2021) led by Galaxy. Backers included YZi Labs (formerly Binance Labs), Jump Crypto, Pantera Capital, Polychain Capital, 1kx, Coinbase Ventures, Hashed, and Arrington Capital. This capital backed the original pre-collapse chain; Terra 2.0 itself conducted no fundraising and operates on its community pool.

On which exchanges can LUNA be traded?

Per DropsTab data, LUNA trades spot on more than 30 centralized venues, led by Binance, OKX, Bybit, KuCoin, Bitget, Gate, and HTX. Fiat on-ramps include BtcTurk (TRY), Bitvavo (EUR), Crypto.com (USD), and Bitazza (THB). Perpetual futures run on OKX, KuCoin, and Gate. DropsTab tracks no DEX markets for LUNA, so liquidity depends entirely on centralized order books, with many venues outside the major pairs.

Why do some exchanges list LUNA under the ticker LUNA2?

Bitvavo and Crypto.com list the Terra 2.0 asset under the alternate ticker LUNA2. LUNA2 is the same coin, not a separate token, and trades there against EUR, USD, and USDT. Venues that use the LUNA ticker and venues that use LUNA2 both reference the same post-2022 Terra chain.