Question 1

What is Terra?

Accepted Answer

Terra is an [open-source blockchain](https://github.com/terra-money/core) hosting a vibrant ecosystem of decentralized applications (dApps) and top-tier developer tools. Using proof-of-stake consensus and ground-breaking technologies like Mantlemint, Terrain, and Station, the Terra blockchain is one of the fastest chains in existence, giving users an unparalleled DeFi experience. As a permissionless, borderless economy, Terra enables next-generation financial products accessible to anyone with an Internet connection.

Question 2

What is Luna?

Accepted Answer

Luna is the Terra protocol’s native [staking](https://docs.terra.money/learn/glossary#staking) token. Luna is used for [governance](https://docs.terra.money/learn/protocol/#governance) and in mining. Users [stake Luna](https://docs.terra.money/learn/protocol/#staking) to validators who record and verify transactions on the [blockchain](https://docs.terra.money/learn/glossary#blockchain) in exchange for rewards from transaction fees.

Question 3

A new Terra

Accepted Answer

On May 25th, 2022, Terra Classic users passed [governance proposal 1623](https://station.terra.money/proposal/1623), which outlined the genesis of a new Terra chain. This proposal also described a genesis distribution of Luna which would be airdropped to users of the Terra Classic chain based on pre-depeg and post-depeg snapshots. Users can find their airdropped Luna by viewing the same wallet address that was present during either snapshot and [switching their Station network](https://docs.terra.money/learn/station/networks) to the phoenix-1 mainnet.

On May 27th, 2022 the phoenix-1 Terra mainnet launched, ushering in a new era of development by the Terra community.

Question 4

What happened to UST and therefore LUNA?

Accepted Answer

UST was an algorithmic stablecoin created by Terraform Labs and tied to Luna tokens. It was designed to maintain a $1 peg without the backstop of the US dollar and could be traded for $1 worth of Luna at any time. Unfortunately, it lost its peg and crashed, leading to the collapse of both Luna and UST. The risky venture was highly criticized for not being backed by traditional assets like tether, and instead relying on algorithms to keep the two tokens stable.

Question 5

Who created it Terra?

Accepted Answer

Terra (LUNA), developed by Terraform Labs founded by Do Kwon and Daniel Shin, aimed to boost blockchain and cryptocurrency adoption emphasizing price stability and user-friendliness. Do Kwon served as CEO of Terraform Labs.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	LUNA-USDT LUNAUSDT	binance	AA	0.04290USDT	-0,69%	8.533.214,99LUNA	3125	0.04320USDT	0.04420USDT
2	LUNA-TRY LUNATRY	binance	AA	2,13TRY	-0,65%	4.368.531,80LUNA	984	2,14TRY	2,19TRY
3	LUNA-USDT LUNA_USDT	whitebit	BB	0.04300USDT	-0,46%	3.876.368,52LUNA	7648	0.04320USDT	0.04420USDT
4	LUNA-USDT LUNA-USDT	okex	A	0.04302USDT	-0,26%	973.795,34LUNA	1202	0.04313USDT	0.04425USDT
5	LUNA-USDC LUNAUSDC	binance	AA	0.04290USDC	-0,69%	487.346,32LUNA	494	0.04320USDC	0.04410USDC
6	LUNA-USDT LUNA-USDT	kucoin	BB	0.04290USDT	-0,46%	280.102,11LUNA	696	0.04310USDT	0.04420USDT
7	LUNA-USDT LUNAUSDT	bybit	A	0.04298USDT	-0,23%	246.246,10LUNA	186	0.04308USDT	0.04410USDT
8	LUNA-USDT LUNA_USDT	gateio	A	0.04296USDT	-0,14%	172.640,96LUNA	456	0.04302USDT	0.04415USDT
9	LUNA-USDT LUNAUSDT_SPBL	bitget	BB	0.04278USDT	-0,90%	162.009,08LUNA	294	0.04317USDT	0.04417USDT
10	LUNA-USD LUNA2_USD	cryptodotcom	AA	0.04250USD	-0,73%	28.549,00LUNA	46	0.04282USD	0.04445USD
11	LUNA-USDC LUNA-USDC	okex	A	0.04359USDC	0,39%	16.831,79LUNA	2	0.04342USDC	0.04401USDC
12	LUNA-USDC LUNA-USDC	kucoin	BB	0.04240USDC	-0,70%	5878,11LUNA	48	0.04270USDC	0.04450USDC
13	LUNA-TRY LUNA-TRY	okex	A	2,15TRY	0,51%	1449,98LUNA	3	2,14TRY	2,19TRY
14	LUNA-EUR LUNA-EUR	okex	A	0.03945EUR	0,00%	0LUNA	0	0.03945EUR	0.03945EUR
15	LUNA-USDT LUNA2_USDT	cryptodotcom	AA	0.04311USDT	0,00%	0LUNA	0	0.04311USDT	0.04311USDT
16	LUNA-USDC LUNAUSDC	bitrue	D	0.04290USDC	-0,46%	4.866.013,50LUNA	36.785	0.04310USDC	0.04430USDC
17	LUNA-TRY LUNATRY	btcturk	E	2,11TRY	-1,03%	2.522.740,23LUNA	450	2,14TRY	2,19TRY
18	LUNA-USDT luna_usdt	lbank	C	0.04289USDT	-0,69%	2.381.782,57LUNA	2261	0.04319USDT	0.04411USDT
19	LUNA-USDT LUNAUSDT	mexc	C	0.04290USDT	-0,60%	1.730.553,78LUNA	3243	0.04316USDT	0.04416USDT
20	LUNA-EUR LUNA2-EUR	bitvavo	B	0.03828EUR	-0,10%	1.146.453,14LUNA	259	0.03832EUR	0.03938EUR
21	LUNA-USDT LUNA_USDT	coinw	-	0.04300USDT	-0,46%	1.111.155,50LUNA	1465	0.04320USDT	0.04410USDT
22	LUNA-USDT luna_usdt	xtpub	-	0.04290USDT	-0,69%	853.318,20LUNA	1070	0.04320USDT	0.04410USDT
23	LUNA-USDT LUNA-USDT	bingx	D	0.04300USDT	-0,23%	771.825,91LUNA	4852	0.04310USDT	0.04430USDT
24	LUNA-USDT LUNAUSDT	bitrue	D	0.04300USDT	-0,46%	755.523,36LUNA	1269	0.04320USDT	0.04410USDT
25	LUNA-USDT LUNA_USDT	bydfi	-	0.04300USDT	-0,46%	628.200,40LUNA	900	0.04320USDT	0.04420USDT
26	LUNA-USDT LUNAUSDT	btcturk	E	0.04200USDT	-3,00%	350.961,44LUNA	64	0.04330USDT	0.04410USDT
27	LUNA-USDT lunausdt	huobipro	C	0.04260USDT	-1,16%	347.313,32LUNA	249	0.04310USDT	0.04390USDT
28	LUNA-USDT LUNA-USDT	bigone	-	0.04385USDT	1,14%	72.388,17LUNA	3048	0.04335USDT	0.04428USDT
29	LUNA-IDR lunaidr	indodax	E	758,00IDR	-2,70%	26.416,86LUNA	17	779,00IDR	813,00IDR
30	LUNA-INR LUNAINR	coindcx	-	4,36INR	0,79%	10.728,62LUNA	28	4,33INR	4,47INR
31	LUNA-USDT LUNAUSDT	latoken	D	0.04384USDT	0,00%	0LUNA	0	0.04384USDT	0.04384USDT
32	LUNA-USDT LUNAUSDT	hitbtc	E	0.04560USDT	0,00%	0LUNA	0	0.04560USDT	0.04560USDT
33	LUNA-USDT LUNAUSDT	bequant	C	0.04560USDT	0,00%	0LUNA	0	0.04560USDT	0.04560USDT
34	LUNA-USDC LUNAUSDC	hitbtc	E	0.04960USDC	0,00%	0LUNA	0	0.04960USDC	0.04960USDC
35	LUNA-USDT LUNA_USDT	poloniex	C	0.05300USDT	0,00%	0LUNA	0	0.05300USDT	0.05300USDT
36	LUNA-BTC LUNABTC	hitbtc	E	0.0₆1000BTC	0,00%	0LUNA	0	0.0₆1000BTC	0.0₆1000BTC