terra money

Terra Money is a blockchain network created to make global payments, a platform used for algorithmic stablecoins. Terra blockchain is developed to enable the next generation of Web3 products and services. 

Company Details

• Founders: Daniel Shin, Do Kwon
• Founded: 2018

Key Features:

• It is permissionless and borderless which means that anyone around the world can access the next-generation services. 
• Employs a dual token mechanism including LUNA and UST.
• Allows developers to build dApps and financial products like smart contracts development, SDKs, and APIs.
• Issuance of stablecoins that are pegged to various fiat currencies.

FAQs

1. What is Terra Station?

It is a wallet that allows users to store, send, and receive terra stablecoins, participate in governance decisions, stake LUNA to earn rewards and interact with DeFi applications.

2. What are Terra's primary use cases?

Tera is used for cross-border payments, e-commerce payments, asset tokenization, and decentralized finance.