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Terra Classic is a decentralized, open-source blockchain built using the Cosmos SDK and secured through Tendermint consensus, operating independently after splitting from the original Terra network. With rapid block finality of approximately six seconds and extremely low fees, Terra Classic maintains full control over smart contract execution. The network is supported by a grassroots community and a diverse validator set, making it resilient and community-driven. Despite the collapse of its original algorithmic stablecoin model in May 2022, USTC (TerraClassicUSD) continues to be used across the ecosystem as a freely traded token, powering DeFi pools, paying gas fees, and serving as a trading pair on various exchanges. Terra Classic now supports a wide range of DeFi products including DEXes, NFT marketplaces, lending protocols, and synthetic asset platforms. Liquidity providers earn LUNC at competitive APYs while cross-chain integration with Osmosis allows easy onboarding from the broader Cosmos ecosystem. A 0.5% burn tax on every LUNC transaction contributes to deflationary tokenomics, with over 100 billion LUNC already burned. A suite of wallets including Terra Station, Keplr, Trust Wallet, and Ledger enables secure and flexible asset management, while powerful dashboards offer users real-time insights into validator rewards, pool performance, and price movements.
Proof of Stake