Terra Classic

E773510

Terra Classic is the original version of the Terra blockchain network, best known for its algorithmic stablecoin ecosystem and the subsequent collapse that led to the creation of a new Terra chain.

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Statements (46)

Predicate Object
instanceOf Cosmos SDK-based blockchain
blockchain network
public blockchain
smart contract platform
alsoKnownAs Luna Classic chain NERFINISHED
Terra Classic chain
blockchainFamily Cosmos ecosystem
burnMechanism LUNC token burns via community proposals
chainId columbus-5 (historical mainnet id)
chainSplitResultedIn Terra 2.0 NERFINISHED
coFoundedBy Daniel Shin NERFINISHED
Do Kwon NERFINISHED
collapseImpact triggered large-scale crypto market contagion in 2022
consensusMechanism proof-of-stake
createdBy Terraform Labs NERFINISHED
economicDesign algorithmic stablecoin with LUNA/UST mint-burn mechanism
ecosystemIncluded Anchor Protocol NERFINISHED
Chai payment app integration
Mirror Protocol NERFINISHED
focus algorithmic stablecoins
formerNativeToken LUNA NERFINISHED
governanceBody Terra Classic community
governanceToken LUNC NERFINISHED
governedBy on-chain governance
hasStablecoin TerraUSD Classic NERFINISHED
USTC NERFINISHED
launchedAs Terra (original) NERFINISHED
nativeToken LUNC NERFINISHED
networkType public permissionless blockchain
notableEvent UST depeg in May 2022
ecosystem collapse in May 2022
hard fork to create Terra 2.0 in May 2022
previousGovernanceToken LUNA NERFINISHED
primaryProgrammingLanguage Rust for CosmWasm smart contracts
regulatoryAttention subject of multiple investigations related to 2022 collapse
relationshipTo original Terra chain
renamedTo Terra Classic after Terra 2.0 launch
securityModel validator-based staking
settlementLayerFor Terra-based DeFi protocols
stablecoinTicker USTC NERFINISHED
statusAfterFork legacy chain
supports CosmWasm smart contracts NERFINISHED
supportsFeature inter-blockchain communication (IBC)
tickerSymbol LUNC NERFINISHED
usesConsensusEngine Tendermint NERFINISHED
usesFramework Cosmos SDK NERFINISHED

Referenced by (1)

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RenVM supports Terra Classic