What is LUNC (Luna Classic Coin)?
Luna is a well-known name in the field of digital currencies. It has a story that everyone with experience in trading knows, even if it is simple. The setback that befell this project had a negative impact on the entire crypto market, and it was also the reason for many investors losing their confidence in this type of investment. .
LUNC is the new name for the legacy Terra 1.0 blockchain, which was previously represented by LUNA. This system can be defined as a blockchain protocol that aims to create stable digital currencies linked to a number of the most famous fiat currencies, such as the US dollar represented by the USTC coin, which is supposed to equal 1 US dollar.
What is the LUNC coin project?
The Terra Luna project generally aims to stabilize the cryptocurrency market, by offering stable digital currencies pegged to other fiat currencies based on certain algorithms. Here was the problem that led to the collapse of this system and the failure of the affiliated stable currencies to maintain their stability.
The USDT Tether currency is considered one of the most famous stable digital currencies, and it is also the largest in terms of daily trading volume. This currency differs from USTC in that its stability does not depend on an algorithm. Rather, each unit is backed by 1 US dollar as a reserve to ensure its stability.
