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Sisu🎩
@sisu1997
The Luna Network (Terra) is a blockchain platform created by Terraform Labs in 2018, designed to provide infrastructure for stablecoins and decentralized finance (DeFi) applications. The network utilized a unique mechanism to stabilize the prices of stablecoins like UST, leveraging its native token, LUNA, to balance supply and demand. In 2022, the collapse of UST and LUNA led to a sharp decline in the network's value, significantly impacting the cryptocurrency market. Subsequently, a new network called Terra 2.0 was launched, while the previous version (Terra Classic) remains operational.
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