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Let’s talk about Terra Luna

After becoming a crypto expert over the past 2.5 months since I first learned what Bitcoin was, I now think I have found the best crypto project out there that doesn’t get nearly as much as it deserves. The subreddit has less than 400 people on it!

And I know what you are thinking now, Terra has to do with boring ass stable coins, but hear me out.

In order to create UST stable coins, Luna needs to be burned. This means that the more stable coins are being used, the higher the price of Luna is. Even if the Market cap doesn’t move, because the supply of Luna will go down with stable coins being minted.

Ok so why the fuck would anyone want to use UST?

That’s the beauty, they have all kinds of apps that are already seeing real world use. 1.6 Billion UST has already been minted, most of it this year. it’s just getting started

First there is Chai, a payment app in korea with reportedly over 2 million users.

Then there is mirror, a decentralized stock exchange where you can trade synthetic stocks.

Then there is **Anchor**, the most beautiful of them all, where you can earn **20% interest** on your stable coins by simply depositing them in the savings protocol. You are safe from crypto volatility because it is a stable coin, but the terra ecosystem still allows you to get steady profits. Now you might be bored by 20%, but a lot of no coiners are going to LOVE this when they learn about it.

OK so 20% interest on a savings account sounds too good to be true right, how does it work?

Well like I said, I only learned bitcoin wasnt a scam two months ago so don’t expect expert explanations here. But i can provide some good links which explain it.

[Tweets from Do Kwon one of the guys who started Terraform labs](https://twitter.com/d0h0k1/status/1379728830307258374?s=08)

[How does Terra work?](https://www.youtube.com/watch?v=KqpGMoYZMhY&ab_channel=Terra)

[What is Anchor protocol?](https://www.theancientbabylonians.com/what-is-anchor-protocol-anc/)

Basically I am trying to figure out if this is too good to be true because eventually moving some crypto earnings into a savings account with 20% interest sounds like a dream.

Ps. This is the very first time I’ve tried to make a post with editing and links and shit so use lube

Edit: Oh and the guy who started it is Do Kwon who was [listed on forbes 30 under 30 finance](https://www.forbes.com/profile/do-kwon/?sh=66899f601da3).

[Coinbase and Mike Novogratz](https://www.crunchbase.com/organization/terra-d41a) have invested in the project too

Edit 2: For those who hate reading, this guy Nacho Crypto made a good youtube series explaining how things work



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21 Comments

  1. A friend of mine has invested heavily in Luna, Anchor and Mirror. He is also claiming that this is the best project he has found so far and that the whole system is brilliant.

    I am waiting for the next larger dip to fill my bags though.

  2. Shilling as a Luna holder, but I’d highly recommend people take the time to research Terra.

    The ecosystem trying to be created here is really amazing. The value of decentralized stock exposure is worth trillions in TVL. There are so many problems with traditional markets that Terra is looking to solve.

    Leverage is very inefficient in traditional markets. Blockchain markets trade 24/7 and can liquidate people leveraged 100-1. As we just saw with Bill Hwang even 5-1 leveraged caused some banks to take big losses.

    On top of this you have anchor paying 20% stable yield which can be dropped into any app (see kash.io alpha or chai). We will have to see if that rate is maintained in a bear market.

    What’s in the pipeline is also very compelling. Execution by Do Kwon and the team has been fantastic. I can’t wait to see what develops.

  3. What impresses me about Terra ecosystem is how easy Mirror and Anchor protocol are to use and understand the doc’s that are easily accessible on the site taught me a lot about how not just they work also similar protocols on other networks

  4. > Of the 385,245,974 LUNA minted for the sale, 10% was reserved for Terraform Labs, 20% for employees and project contributors, 20% for the Terra Alliance

    Yikes, 50% held by the devs + business partners.

  5. Terra is a monster project, follow the data and smart money going into this one..

    Check out the articles from;
    bison trails
    Coinlist
    XrpArrington

    Recent investors:
    Coinbase ventures
    Galaxy digital

  6. I cried myself to sleep a couple night in a row when i found out about this gem and realized i missed the 100x .
    I agree everything about this project is insane. But it also already has a huge market cap and has just 100xed so for me its a big no no.
    Timing matters in these altcoins. Going 10 x from here would make it perform better that ethereum in the last bullrun. Just a perspective to think about 😉

  7. I know this sounds boring, but here me out…. STABLE COINS!

    First, there is something you’ve never heard of.

    Secondly, there’s some other thing you’ve never heard of.

    Then, there’s this bunch of hype projects and shit coins that we can mention.

    Summary: It’s too good to be true.

    DISCLAIMER: I’m only joking. Nice post. Keep it up.

  8. In since $0.5

    I fucking love Do.

    That is all. Check my post and comment history for views on Terra. It is really good, we have around 10 protocols confirmed as currently joining the ecosystem (publicly)

  9. Stablecoins are doomed as the USD is doomed due to the coming hyperinflation.

    Not solely hyperinflation but also FED, ECB and IMF are stuck with the negative interest rates: no way out – except grand devaluation.

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