Review on Terra by Benaiah A. Akinlade

Name: Terra
Item: Terra
Rating: 4

November 08, 2020

Terra: A blockchain protocol thriving on the wave of LUNA's Stablecoin stability

Terra is a crypto blockchain protocol that takes advantage of the stability fiat stablecoins to stabilize payments systems around the world. The blockchain is secured using a PoS (proof-of-stake) algorithm which is based on Tendermint. Terra was cofounded in 2018 by Do Kwon (CEO of Terraform) and Daniel Shin as a way to hasten the adoption of cryptocurrencies and blockchain technology. Its mainnet was officially launched in 2019 as a way to offer stablecoins pegged against the USD and other international currencies.
LUNA is the native token of Terra that used in stabilizing the price of its stablecoins. It is a crypto token which is mined in order to power its DPoS blockchain. It has a supply of 1 billion tokens where exceeding LUNA tokens are burnt until supply level returns to normal. The Token is listed on several cryptocurrency exchanges such as Huobi, Bitfinex, Binance, OKEx, Coinone, Bithumb, Upbit, and Huobi. You can also trade your token against other cryptocurrencies (BTC), fiat currencies (USD), and stablecoins (USDT).
The main attribute of LUNA is it being a stablecoin, which makes it have a very low susceptibilty to volatility like other cryptocurrencies. This is what makes me beleive that it is worth investing in.
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Pros

The Terra (LUNA) thrives on the stability of it being a stablecoin
Terra aims to make its stablecoins available to every developer on every blockchain.
Terra stablecoins offer instant settlements and low fees charged
You can stake your tokens as collateral so that your transactions can be validated
Terra gives incentives to holders of LUNA token so that they can swap it with stablecoins at an exchange rate that is profitable to the holder
Investors receive rewards in proportion to the amount of the LUNA token they staked.
As a token holder, you can also delegate other investors to validate transactions in your stead.
Holders of LUNA token can also make submissions and cast their votes on governance proposals.
Terra utilizes Anchor Protocol to enable its stablecoin deposits to earn stable yields.