Terraria #TerraLunaClassic Terra Classic is the original chain of what was formerly called Terra. After the collapse of its algorithmic stablecoin in May 2022, the project was restructured: the legacy blockchain was renamed Terra Classic, and the legacy native token LUNA was rebranded as LUNA Classic (LUNC).#TerraLunaClassic

Initially, LUNC’s purpose was to support a stablecoin (then known as UST) through a mint-and-burn supply mechanism — helping maintain the stablecoin’s peg via supply adjustments#TerraUSD

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After the 2022 collapse, the stablecoin peg failed, and the original mechanism broke down. The chain lost its stablecoin-peg functionality and was turned over to the community.

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