XDEFI Wallet supports Terra v2 (LUNA)

What is Terra v2?

Terra v2 is an open-source, community-owned blockchain that hosts a vibrant ecosystem of applications. On Terra v2, you can build applications and organizations using the available suite of cutting-edge developer tools or simply try out existing ones by connecting a wallet. The Terra v2 ecosystem runs on its native cryptocurrency, LUNA. You can use LUNA to pay transaction fees on the Terra blockchain as you interact with various applications. Additionally, you can also use LUNA to earn staking rewards, purchase your favorite digital art, have a say on community-led governance proposals, and much more. Terra v2 is permissionless and borderless, which means that its next-generation financial products are accessible to anyone in the world with an Internet connection.

What are the core features of Terra v2?

• Decentralized Applications (dApps): Terra v2 provides a platform for the development and deployment of decentralized applications. It offers developer tools, including software development kits (SDKs) and smart contract frameworks, to facilitate the creation of dApps on the Terra v2 blockchain.
• Interoperability: Terra v2 aims to provide interoperability with other blockchain networks. It enables seamless transfers of assets and data across different blockchain platforms, allowing for greater connectivity and collaboration between ecosystems.
• Delegated Proof-of-Stake (DPoS) Consensus: Terra v2 utilizes a delegated proof-of-stake consensus mechanism. Token holders can delegate their stake to validators who secure the network and validate transactions. This consensus mechanism ensures the security and decentralization of the Terra blockchain.
• Scalability: Terra v2 is designed to be a scalable blockchain platform. It implements various technologies and optimizations to handle a high volume of transactions efficiently, allowing for fast and cost-effective transactions.
• Financial Infrastructure: Terra v2 aims to provide programmable money and financial infrastructure. It enables developers to build innovative financial applications, including decentralized finance (DeFi) protocols, stablecoin-based lending platforms, and more.

What is the native token of Terra v2?

The native token of the Terra v2 blockchain is called Terra (LUNA). LUNA serves as the native cryptocurrency and utility token of the Terra v2 network. It plays a crucial role in the stability and operation of the ecosystem. LUNA has several functions within the Terra v2 ecosystem. Firstly, it is used for staking and participating in the network’s consensus mechanism. LUNA holders can delegate their tokens to validators and earn staking rewards for helping to secure the network.