- Terra Luna funding is live on Kraken and Kraken Terminal
- Trading begins on December 16th
The Kraken Exchange tweeted that Terra Luna funding is live and that order execution and entry will begin on Thursday, December 16th. No confirmations are required for deposits. The price precision of trading of LUNA against EUR or the USD will be accurate to 2 decimal places.
How Terra And Luna Work Together
Terra is a scalable public proof-of-stake blockchain protocol. Its algorithmic decentralized stablecoins are used for a decentralized finance ecosystem. Terra has the capability of hosting many stablecoins on its network. It combines decentralized oracle voting with open market arbitrage incentives in order to track the price of any fiat currency. The two tokens used are Terra and Luna.
Terra is the stablecoin which is a crypto asset that tracks the fiat currency price. Terra stable coins are named after the fiat currency that they track and all of the denominations exist in the same pool. Luna is the native staking token of Terra that the ecosystem uses for governance and mining. New Terra is minted by burning Luna. Though the Terra is pinned to the value of a fiat currency it can be traded with the benefits that blockchain technology gives to financial transactions namely; low transaction fees, speed, and an unchangeable public ledger. Terra and Luna work to balance the economy with the algorithmic module.
Kraken Exchange And Luna
Kraken is an exchange that aims to be easy to use for newbies and experienced traders alike. Kraken also works towards making it easier for people who are new to the world of cryptocurrency to learn about it. The fiat linked Terra may be of interest to people trying to understand how blockchain DeFi works from a fiat perspective. Kraken aims to support as many trading pairs as possible and this listing takes access to Luna within the perspective of Kraken Exchange users. Recently, Kraken has also announced the launch of its new app.