Terra is an open-source blockchain payment platform that creates stablecoins designed to track the prices of fiat currencies. Terra Luna Classic refers to the original coin that is now in circulation after the establishment of a new Terra chain back in 2022. LUNA is the native currency of the platform and has 3 main functionalities: Providing incentives for the platform’s blockchain validators, mining Terra transactions through staking, and ensuring the price stability of Terra stablecoins.