Wrapped Luna (WLUNA) is an Ethereum token that’s intended to represent Terra (LUNA) on the Ethereum blockchain. It is not LUNA, but rather a separate ERC-20 token that’s designed to track LUNA’s value. WLUNA was created to allow LUNA holders to trade, hold, and participate in decentralized finance (“DeFi”) apps on Ethereum. Through a WLUNA partner, 1 LUNA can be exchanged for 1 WLUNA, and vice-versa.