Terra Classic (LUNA)

LUNC Launched 2019 source Historical / collapsed

What this page is: neutral, sourced facts about Terra Classic (LUNA). Every line links where it was checked. 14 facts, 8 from primary sources. Educational, not financial advice.

Live chart

Live chart from TradingView, loaded only when you click. The chart is for viewing only. It is not a signal or advice, and this page shows no other prices.

Terra Classic (LUNA) chart

Loads from TradingView only when you click, which then receives your IP address. See our privacy page.

Launch

Development on Terra began in January 2018, and its mainnet officially launched in April 2019. secondary source source

Founders and creators

Terraform Labs co-founded by Do Kwon in 2018. primary source source
Created in 2018 by Terraform Labs, a startup co-founded by Do Kwon and Daniel Shin. secondary source source

Origin story

TerraUSD (UST) launched around September 2020; one UST could be exchanged for $1 worth of LUNA. primary source source

Stated purpose

The SEC alleged that Terra USD (UST) was an algorithmic stablecoin that supposedly maintained its peg to the U.S. dollar by being interchangeable for LUNA. primary source source

Consensus mechanism

For consensus, the Terra blockchain uses a proof-of-stake codesign. secondary source source

Supply model

UST stablecoins were not backed by U.S. dollars; instead, they were designed to maintain their peg through a complex model called burn and mint equilibrium. secondary source source

Main uses today

LUNA served as the primary backing asset for Terra, also used as a governance token for users to vote on Terra community proposals. secondary source source

Key milestones

In February 2022, Terra and the Washington Nationals baseball team announced a sponsorship agreement. secondary source source

Notable events and controversies

UST and LUNA crashed in May 2022 and investors suffered over $40 billion in losses. primary source source
SEC charged Terraform and Do Kwon (Feb 2023). primary source source
Do Kwon pled guilty on August 12, 2025. primary source source
Do Kwon sentenced to 15 years in prison on December 11, 2025. primary source source
The SEC charged Terraform Labs and Do Kwon with orchestrating a multi-billion dollar crypto asset securities fraud involving an algorithmic stablecoin, from April 2018 until the collapse in May 2022. primary source source

Sources & studies

Last checked: 2026-11-04 · Prices, market caps and circulating supply are left out on purpose because they change by the minute. Educational, not financial advice.

Education only, not financial advice. No signals. Backtests are hypothetical: real trading can be worse. Past results don't predict future results.