Terra is from South Korea’s, Terraform Labs which is a blockchain protocol that uses fiat-pegged stable coins to power price-stable global payments systems. By using stablecoins, the Terra platform offers low fees, instant settlement, and frictionless cross-border exchange to power retail transactions. The Terra protocol is designed to maintain a balanced equilibrium of all of its fiat-based stablecoins like TerraUSD, TerraKRW, TerraEUR, and TerraSDR.
The Terra platform uses its native LUNA token to maintain equilibrium by using specialized algorithmic spending and stablecoin usage data gathered directly from the Terra blockchain. Terra stablecoins and other Terra ecosystem assets can be used for numerous DeFi applications including for on-chain swaps, oracles, lending, borrowing, staking, synthetic assets, and much more.
The Trust Wallet Development Team is happy to announce that the Terra blockchain is now supported by the app. Update your app to version 6.7 on iOS and version 2.0x on Android to be able to send and receive LUNA and other Terra assets, as well as stake LUNA tokens on your wallet.