Stable cryptocurrency for mass adoption
Terra is a stable coin backed by Luna. Terra aims to build the financial infrastructure for the next generation of decentralized applications. Terra guarantees its value from transaction fees collected on the Terra network in the form of Luna.
Launched in 2018, Terra did various funding rounds raising in total more than $32 from investors like LuneX Ventures, HashKey Capital, Kakao Ventures, ICONIUM, 1kx, Huobi Capital and HOF Capital. As of now, Terra has more than 1.8 million users, $250 million processed transactions, and a $1.2 billion annual run rate from its payment gateway app that runs on top of its blockchain network called CHAI.