Terra Classic (LUNC) is a programmable blockchain protocol that has been developed to create a digital payment system that has the autonomy, decentralisation and speed of cryptocurrency but is powered by fiat-pegged stablecoins. The Terra protocol allowed the creation of stablecoins, which are non-volatile digital assets pegged to a real-world currency.
The Terra blockchain network was built using Cosmos and has been widely adopted by Asian e-commerce markets that use stablecoins pegged to the US Dollar, South Korean Won and Japanese Yen.