TERRA LUNA CLASSIC

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Terra is a public, open-source blockchain protocol that provides fundamental infrastructure for a decentralized economy and enables open participation in the creation of new financial primitives to power the innovation of money.

Classic is the reference implementation of the Terra protocol, written in Golang. Terra Core is built atop Cosmos SDK and uses Tendermint BFT consensus.

Terra Classic Pre-Crash

The Terra protocol was the leading decentralized and open-source blockchain for algorithmic stablecoins. Using a combination of open market arbitrage incentives and decentralized Oracle voting, the Terra protocol created stablecoins that were able to consistently track the price of any fiat currency. Users were able to spend, save, trade, or exchange Terra stablecoins instantly, all on the Terra blockchain. Luna (now LUNC) provided its holders with staking rewards and governance power. The Terra ecosystem was a quickly expanding network of decentralized applications, creating a stable demand for Terra and increasing the price of Luna (now LUNC).

Terra Classic Post-Crash

The Terra protocol has disabled the algorithmic portion of the ecosystem which was used as an attack vector to initiate the crash resulting in abundant minting of Luna (now LUNC). Although the stablecoins currently lie dormant as the community galvanizes with intent to restore the Terra ecosystem to it's former glory LUNA CLASSIC coins can still be used to spend, save, trade, and holders are still able to generate staking rewards and still retain governance power.

LUNA CLASSIC is now a coin of the community, governed by the community and soon to be restored by the community.

LUNA CLASSIC is most commonly referred to as LUNC. LUNC is now the original blockchain and the chain commonly referred to as LUNA is the post fork chain that splintered off from LUNC. There is a theory that the additional term "classic" is a reference to the Euthereum/Euthereum Classic split in 2017 after the Ethereum's DAO hack.

The above chart represents the devastating collapse that befell the ecosystem, while there is still a lot of speculation and blockchain sleuthing to determine the real causes one thing is for sure, the community remains dedicated to the survival and revival of LUNC.

LUNA CLASSIC POTENTIAL

LUNA CLASSIC has the ability to revolutionize the peer to peer payments mechanisms much like Bitcoin is currently doing. There are some key differences with the supply structure of LUNC and BTC as well as market forces that currently act upon them.

Bitcoin is well known for it's inelastic supply, exactly what you want in a unit of measurement. The ADDVOW VALIDATOR believes Bitcoin will be adopted as a World Reserve Currency as we see nations begin to adopt and accept BTC as legal tender.

Once the reserve currency status of Bitcoin is achieved on a global scale the value of the asset will dwarf all other asset classes because of it's supply structure with only 21 Million ever to be in existence not accounting for lost Bitcoin of which it is believed there is a significant amount.

Bitcoin will no longer at this point be feasible for daily transactions as the value will be too great coupled with the associated fee per transaction(UTXO's).

LUNA CLASSIC makes it's strong case for handling all global transactions with it's speed, scalability and low cost. The current monetary system suffers from inflationary pressures as government spending has ballooned out of control and monetary debasement along with it. In an inherently inflationary environment the deflationary nature of the LUNA CLASSIC ecosystem is a breath of fresh air. The abundant supply of LUNA CLASSIC allows for low cost acquisition of the asset as well as the ability for the world to enter the ecosystem without drastic effects in price movement (we believe LUNC to be severely undervalued). However as the demand grows and transactions increase the 1.2% tax that is levied on transactions allows for the slow reduction of the supply while passing fractions more value to the current holders of the coin and community members of the chain. Unlike all fiat currencies that slowly erode away at the purchasing power of the holder, LUNC allows for purchasing power to be strengthened over time.

The levied tax is gathered in the Community Pool and portions sent to the Oracle Pool (rewards for staking). The Community Pool which receives a large portion of the tax can only be spent upon majority consensus of all voting parties governing the LUNC Blockchain. Enter our Validators.