Terra is an open-source project that supports an ecosystem of decentralized applications (dApps) and developer tools. The proof-of-stake blockchain claims to be one of the fastest chains in existence and supports several innovative technologies like Mantlemint, Terrain, and Terra Station. Terra aims to serve as a permissionless, borderless economy accessible to anyone with an Internet connection, providing the next generation of financial products.
Terra was traditionally a stable-coin project but has since evolved into a more complex offering of several decentralized financial services. Luna is Terra’s native staking token, used for governance and mining. Users stake Luna to validators who record and verify transactions on the blockchain in exchange for rewards from transaction fees.