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Terra Classic is the continuation of the old Terra blockchain. For the new Terra, see Terra 2.0. The Terra protocol is a decentralized and open-source public blockchain protocol for algorithmic stablecoins. Using a combination of open market arbitrage incentives and decentralized Oracle voting, the Terra protocol creates stablecoins that track the price of any fiat currency. Users can spend, save, trade, or exchange Terra stablecoins instantly, all on the Terra blockchain. The LUNA token provides its holders with governance power.
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