Where Terra (LUNA) is Accepted Locally and Globally
LUNA is the native token of the Terra stablecoin ecosystem. It’s the fuel enabling interoperability between stablecoins pegged to the US dollar, South Korean Won, Mongolian Tugrik, and the International Monetary Fund’s Special Drawing Rights (I’ll refrain from conspiracy theorizing about IMF here — I’m sure that they are very nice bankers who just want the best for all us). Having achieved a top 20 CoinMarketCap rank and respectable price, LUNA is accepted by businesses around the world as payment, from New-York-based Endmore, offering some very cool office accessories to the Apple Bitcoin Store in the United Kingdom (is it still united? Is it still a kingdom? I digress…)
Who accepts LUNA…
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Should you buy LUNA?
Once you wrap your head around its tokenomics, you’ll want to! When Terra’s stablecoins (like the dollar-backed UST) are minted a proportional amount of LUNA tokens are burned — they disappear into a blockchain “blackhole” — thus increasing the value of the remaining LUNA pool. But there’s more to like about Terra/LUNA…
- Anchor protocol — allowing savers to enjoy something like 20% annual yields on stacked stablecoins.
- Mirror Protocol Mirror Protocol -: a DeFi protocol that enables the creation of “synthetic assets.”
- CHAI — A payments app that apparently 5% of South Koreans use.
- Stacking LUNA is your best bet as you’ll enjoy airdrops (free tokens) of crypto projects launched on Terra.
Checking out LUNA’s price action in 2021, you’ll wish you had a time machine! Its deflationary mechanisms have majorly kicked in resulting in growth from under $1 to over $25. LUNA-holders stand poised to be richly rewarded from the ascent of stablecoins.
The future looks so bright for LUNA that you may think you need a gold-plated sun visor, but there’s a lot of uncertainty and competition in the stablecoin space. Globalist governments are schizophrenic in their sentiments about stable cryptos — might stablecoins like Terra’s be banned or become highly regulated by neoliberal bureaucrats desperately trying to perpetuate the beastly legacy financial system. When the monstrous Tether “stablecoin” fraud finally melts down what sort of stupid stablecoin rules will regulators enshrine? Only time will tell.
About Terra
A lot of Terra/LUNA’s businesses model revolves around DeFi wizardry, so before you buy in please make yourself a strong cup (or ten) of coffee so you can bury your head in the necessary reading and research to wrap your mind around how DeFi works.
While many see the benefits of a price-stable cryptocurrency that combines the best of both fiat and Bitcoin, not many have a clear plan for the adoption of such a currency. Since the value of a currency as a medium of exchange is mainly driven by its network effects, a successful new digital currency needs to maximize adoption in order to become useful. We propose a cryptocurrency, Terra, which is both price-stable and growth-driven. It achieves price-stability via an elastic money supply, enabled by stable mining incentives. It also uses seigniorage created by its minting operations as transaction stimulus, thereby facilitating adoption. There is demand for a decentralized, price-stable money protocol in both fiat and blockchain economies. If such a protocol succeeds, then it will have a significant impact as the best use case for cryptocurrencies.
from the abstract of the Terra whitepaper
