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.

All labels observed (2)

Label Occurrences
Terra Classic canonical 1
TerraUSD Classic 1

How this entity was disambiguated

Statements (46)

Predicate Object
instanceOf Cosmos SDK-based blockchain
blockchain network
public blockchain
smart contract platform
alsoKnownAs Luna Classic chain
Terra Classic chain
blockchainFamily Cosmos ecosystem
burnMechanism LUNC token burns via community proposals
chainId columbus-5 (historical mainnet id)
chainSplitResultedIn Terra 2.0
coFoundedBy Daniel Shin
Do Kwon
collapseImpact triggered large-scale crypto market contagion in 2022
consensusMechanism proof-of-stake
createdBy Terraform Labs
economicDesign algorithmic stablecoin with LUNA/UST mint-burn mechanism
ecosystemIncluded Anchor Protocol
Chai payment app integration
Mirror Protocol
focus algorithmic stablecoins
formerNativeToken LUNA
governanceBody Terra Classic community
governanceToken LUNC
governedBy on-chain governance
hasStablecoin TerraUSD Classic
linked to: Terra Classic

USTC
launchedAs Terra (original)
nativeToken LUNC
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
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
statusAfterFork legacy chain
supports CosmWasm smart contracts
linked to: CosmWasm
supportsFeature inter-blockchain communication (IBC)
tickerSymbol LUNC
usesConsensusEngine Tendermint
linked to: Tendermint Core
usesFramework Cosmos SDK

How these facts were elicited

Referenced by (2)

Full triples — surface form annotated when it differs from this entity's canonical label.

RenVM supports Terra Classic
Terra Classic hasStablecoin TerraUSD Classic
linked to: Terra Classic