Terra
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Terra

Luna listed on Huobi!

Thank you to our community who has helped us win the Huobi FastTrack competition!

Luna is now listed on Huobi!

Pairs: LUNA/BTC, LUNA/USDT, LUNA/HT

Trading pairs will be launched: July 29, 2020 22:00:00

Withdrawals open: July 29, 2020 22:00:00

Trading opening time: July 29, 2020 23:00:00

Trading pair $LUNA / $BTC available here!

Trading pair $LUNA / $USDT available here!

Trading pair $LUNA / $HT available here!

Terra’s Luna entered into Huobi’s Phase 11 FastTrack Listing Competition July 28, 2020 to determine if Luna would be listed earlier or later than its competition. Separated into 2 separate phases, the FastTrack Listing Competition allowed the global community to vote with Luna deposits in phase 1 and the Huobi community to vote with Huobi Tokens in phase 2.

Luna ended with a total of 7503432 votes ending with a dominant win!

To kick off the voting campaign, Terra hosted an AMA to provide an introduction into Terra and allow participants to ask any questions they had about Terra and its goals for the future. There were many questions asked by the community that delved into both Terra’s success with the mass adoption of the Chai payments app and the DeFi inroads that Terra is making with its coming launch of the Anchor DeFi protocol. Importantly, many participants had their questions answered with regards to the specifics of Terra’s stability mechanism for its family of stablecoins and the value proposition for its native staking token, Luna.

Terra

Terra has had significant impact within the Korean market demonstrating the effectiveness of its stablecoin mechanism and immediate commercial use-cases resulting in mass adoption. The Chai payments app built on Terra has risen to become one of the most popular applications built with blockchain with over 3% of the South Korean population using Chai to pay for goods and services ranging from Korea’s #1 online travel agency, #1 bookstore, #1 gaming publisher, #1 convenience store, the top e-commerce sites, and many more. As of July 2020, Chai currently has over 1.7 million users, an annual run rate of $1 billion, and has shown an average retention rate of over 80% when used with multiple merchants. Now with Luna’s listing on Huobi, the Terra ecosystem will enjoy broader exposure to the global ecosystem and allow it to continue on its mission to truly set money free by building the future of open financial infrastructure.

Luna

Luna, as the native staking asset from which the family of Terra stablecoins derive their stability, utility, and value, acts both as collateral for the entire Terra economy and as a staking token that secures the PoS network. Luna can be held and traded as a normal cryptoasset, but can also be staked to accrue rewards in the network generated from transaction fees. Luna can also be used to make and vote on governance proposals.

Family of Stablecoins

The family of Terra stablecoins achieve stability through consistent mining rewards with a contracting and expanding money supply. For example, if the system has detected that the price of a Terra currency has deviated from its peg, it applies pressure to normalize the price. Currently, the family of Terra stablecoins include: KRT (Terra stablecoin pegged to Korean Won), UST (Terra stablecoin pegged to US Dollar), MNT (Terra stablecoin pegged to Mongolian Togrog), SDR (Terra stablecoin pegged to IMF SDR), with more being added in the future.

Luna’s listing on Huobi means more global access for those who want to have easier access to Terra’s ecosystem! We are excited to be a part of the Huobi family and will be working harder to realizing the goals of an open financial infrastructure that can work better for everyone.

As always, please join us on our communities!

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