Venus1100
Active member
The native asset of the Terra Classic blockchain is called Luna Classic (LUNC), but it was formerly known as LUNA. The hard fork into Terra and renaming of this token from LUNA to Luna Classic resulted from the collapse of LUNA and UST in May 2022. (LUNC). The native asset of the new Terra Luna network, which was developed to prevent the collapse, is now known as LUNA 2.0, and is referred to by the token name "LUNA."
The hard fork has resulted in Terra now running two parallel blockchains, which are, in brief:
The Terra Classic network, sometimes referred to as the original Terra blockchain, includes the twin coin TerraClassicUSD and the native asset Luna Classic (LUNC) (USTC).
With its native asset Luna 2.0, the new Terra blockchain (LUNA).
How do LUNC Usecases work?
Users can utilize LUNC, the native token of the Terra Classic network, in the following ways:
To benefit from transaction fees, stake.
participate in voting, initiatives, and treasury governance.
For transactions and data storage, pay fees.
The hard fork has resulted in Terra now running two parallel blockchains, which are, in brief:
The Terra Classic network, sometimes referred to as the original Terra blockchain, includes the twin coin TerraClassicUSD and the native asset Luna Classic (LUNC) (USTC).
With its native asset Luna 2.0, the new Terra blockchain (LUNA).
How do LUNC Usecases work?
Users can utilize LUNC, the native token of the Terra Classic network, in the following ways:
To benefit from transaction fees, stake.
participate in voting, initiatives, and treasury governance.
For transactions and data storage, pay fees.
