Get to know LUNA, the new Mainnet crypto asset on Indodax
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Get to know LUNA, the new Mainnet crypto asset on Indodax

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Get to know LUNA, the new Mainnet crypto asset on Indodax

Akhirnya Datang Juga! Terra Luna Kini Hadir di Indodax!

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The Terra (LUNA) crypto asset this week will be listed on Indodax. Open deposit will start on March 30, 2022 at 14:00 WIB and open trading will start on March 31, 2022 also at 14:00 WIB.

One of the best crypto assets of the Mainnet type, LUNA is now available on Indodax. LUNA is the native Terra protocol staking token that absorbs Terra’s price volatility. Luna is used for governance and mining. Let’s cut to the chase! Come and find out more here!

What is Terra?

The Terra protocol is a leading open-source decentralized public blockchain protocol for algorithmic stablecoins.

Using a combination of open market arbitrage incentives and Oracle’s decentralized voting, the Terra protocol creates a stablecoin that consistently tracks the price of any fiat currency.

Users can spend, store, trade or exchange Terra stablecoins instantly, all on the Terra blockchain.

TERA and LUNA

Terra: A stablecoin that tracks the price of fiat currencies. The user scores a new Terra by burning Luna. Stablecoins are named for their fiat counterparts. For example, the base stablecoin Terra tracks the price of the IMF’s SDR, named TerraSDR, or SDT. Other stablecoin denominations include TerraUSD or UST, and TerraKRW or KRT. All Terra denominations are in the same pool.

Luna: Terra protocol native staking token that absorbs Terra’s price volatility. Luna is used for governance and mining. Users stake Luna to a validator who records and verifies transactions on the blockchain in exchange for a transaction fee. The more Terra is used, the more Luna scores.

Uses of LUNA

Luna gives their holder gifts and powers of government. The Terra Ecosystem is a decentralized application network that is growing rapidly, creating a steady demand for Terra and increasing the price of Luna.

In short, LUNA is responsible for the stability of the Terra stablecoin, and vice versa. The name of the protocol is meant to be analogous to the symbiotic relationship between the earth and the moon, and the way the two celestial bodies provide gravitational stability to each other.

How the Terra protocol works

  • Stablecoin

The main feature of the Terra protocol: a crypto asset that tracks the price of the underlying currency. As a form of digital currency, Terra stablecoins can be used like fiat currencies with the added benefits of blockchain: immutable general ledgers, instant transactions, faster settlement times and lower fees.

  • Expansion and contraction

Expansion: When Terra’s price is high compared to its peg, supply is too small and demand is too high. The protocol incentivizes the user to burn Luna and create Terra. The new Terra supply makes the pool bigger, balancing supply with demand. The user scores more Terra than Luna burns until Terra reaches its target price. The Luna Pool gets smaller in the process, increasing Luna’s price.

Contraction: When Terra’s price is too low compared to its peg, supply is too high and demand is too low. This protocol encourages users to burn Terra and print Luna. The decreasing supply of Terra causes scarcity, and the price of Terra increases. More Lunas are minted than Terra is burned until Terra reaches its target price. Luna’s pool goes up and down in price.

  • Market and arbitrage module

Terra’s price stability is achieved by the protocol’s algorithmic marketplace module, which drives the printing or burning of Terra through arbitrage opportunities. Arbitrage occurs when users profit from price differences between markets.

The Terra protocol marketplace module allows users to always trade Luna worth 1 USD for 1 UST, and vice versa, incentivizing users to maintain Terra’s price. This same principle applies to all Terra stablecoin denominations.

  • Seigniorage and deflation

Seigniorage is the value of a coin minus the cost of producing it. In early versions of the Terra protocol, seigniorage was diverted to fund various community projects. While seigniorage can create enormous value, it also creates inflation in the system. All of the seigniorage in Terra’s protocol was burned, leaving Luna deflation.

LUNA Crypto Assets

The current CoinMarketCap ranking is #7, with a live market cap of $32,662,609,891 USD. It has a circulating supply of 369,936,171 LUNA coins and the max. supply is not available.

How to Buy LUNA Crypto Assets on Indodax

For those of you who want to buy LUNA crypto assets, you can buy them on Indodax starting March 30, 2022 at 14:00 WIB

Here’s how to buy it:

  1. For those of you who are not yet a member, you can click the link here
  2. After that, make a deposit. For those of you who are confused about how to deposit, click on this link
  3. After your deposit and balance come in, you can return to the market
  4. Look for LUNA in the Rupiah market then click
  5. After entering, all you have to do is buy by filling in the balance and at what price you want to buy LUNA. You can also buy it instantly or directly at the current price
  6. After that, you need to patiently wait for the price to increase for some time
  7. After the price increases, you can sell it at a higher price with the instant method
  8. If you sell with the limit method, you can place orders after buying. Make sure you enter a higher number when selling.
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