Terra (blockchain)
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 is most known for its Terra stablecoin and the associated Luna reserve asset cryptocurrency.
| Developer(s) | Terraform Labs |
|---|---|
| Initial release | 24 April 2019 |
| Website | terra |
In May 2022, the Terra blockchain was temporarily halted after the collapse of the stablecoin TerraUSD (UST) and Luna, in the event that wiped out almost $45 billion in market capitalisation within a week. On January 21, 2024, the company filed for bankruptcy.
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