Terra is blockchain payment network interwoven with stablecoins.

They have their own stablecoins. For USD, it is UST Terra (not to be confused with the popular USDT Tether). To mint an additional dollar of UST, a dollar worth of Luna must be burnt on the other end. The reverse is true.

Terra has a real-world eCommerce use case with 10 million users. They partnered with CHAI, a Korean mobile payment service.

Terra Station - Wallet

They have desktop app and web app.

If you use Ledger, it is not supported on Terra desktop app. Just use the Terra web app.

Luna staking rewards

As of Jan 2022, it is 9.6%. There are also weekly airdrops, which is an additional 0.69%. Info from Smart Stake.

Claiming airdrops has a fee of ~$0.30 each time. If you stake little, you get little, so claiming is not worth it.

How to get started?

UST can only be traded in certain exchange. Gemini and Bitfinex are the few that supports.

LUNA can be traded in most exchanges.

Send it to your Terra wallet, and you can stake it there.

Other protocols & tokens

Terra has other tokens:

• LUNA: governance
• ANC: Anchor protocol, with savings APY of 19%!
• MIR: Mirror protocol to create any synthetic assets (mAAPL, mTSLA, …)

Resources

• Yield Farming on Terra: 10 Strategies
• The bullish thesis
• Alipay on the blockchain
• On swap fees: the greedy and the wise
• Txn/Gas fee

Current Price