The score is based on the site’s research on social media platforms such as Reddit and Twitter. The other metrics (development, awareness and credibility) were awarded less than six out of ten. Terra scored a nine out of 10 on trading volume, more than eight for market sentiment and under seven for community. Terra claims that e-commerce transaction on the network could be much cheaper than with traditional payment options such as credit cards, as the fee per transaction is capped at 1SDR – an asset based on a weighted basket of currencies (US dollar, euro, Japanese yen, pound sterling, Chinese renminbi) created by the International Monetary Fund (IMF).Īccording to cryptocurrency research and data site Is This Coin A Scam, the Terra project had a safety score of 6.61 and was awarded a ‘good’ rating, at the time of writing. Miners are rewarded with the transaction fee on Terra network, which is default between 0.1% and 1%. The Terra Protocol runs on a Proof of Stake ( PoS) blockchain, where miners need to stake LUNA to mine Terra transactions. “The Terra Protocol with its balance between fostering stability and adoption represents a meaningful complement to fiat currencies as a means of payment and store of value.” To overcome the challenge of volatility in cryptocurrencies and promote wide adoption of Terra, the network deploys a system of stablecoins – cryptocurrencies with value pegged to fiat currencies or commodities. Terra network is a blockchain project founded in 2018 by South Korea-based Terra Labs.Īccording to Terra’s whitepaper, the blockchain aims to be a peer-to-peer electronic cash system. The coin had a market capitalisation of $33.29bn. Its value ncreased to $95.06 on 21 April, up 9% from the previous week, data from coinmarketcap showed. Terra ( LUNA) was one of the top performing DeFi coins in April. And never invest money that you cannot afford to lose.Īccording to data from crypto-asset tracking site CoinMarketCap, the top three DeFi coins by market capitalisation, as of 21 April, were Terra ( LUNA), Avalanche ( AVAX) and Wrapped Bitcoin ( WBTC). You should conduct your own analysis, taking in such things as the environment in which it trades and your risk tolerance. Before you choose to invest in any DeFi coin, always do your own research and remember that your decision should be based on your attitude to risk, your expertise in this market, the spread of your portfolio and how comfortable you feel about losing money. However, it is important to note this article does not constitute financial or investment advice. Are you interested to learn which are considered the best DeFi coins? Read on for an analysis on the top performing DeFi coins, as well as their risks and potential benefits.
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