What is Luna classic (Lunc)?

Luna classic ( LUNC) was originally created to be the first Terra blockchain’s native token under the name LUNA, launched in 2018. Its role was to serve as a twin token to absorb any price deviation of the blockchain’s algorithmic stablecoin, terraUSD ( UST ).

What's the difference between Luna classic and terra Luna?

Luna Classic (LUNC) became the new token for the Terra Classic blockchain, while Terra Luna (LUNA) became Terra 2.0's native token. Both tokens are their respective chains' staking tokens for governance. Luna Classic has enjoyed a massive push from the community of former Luna holders.

What happened to Luna classic?

In parallel, the old blockchain – often referred to as “Terra Classic” – remained live but with little to no activity and no plans for development on it. After the launch, the new native token of the new network inherited the LUNA name. The old blockchain continued to operate, and its token was rebranded to luna classic (LUNC).

Is Luna a stablecoin?

There are some key differences between the new luna token and the old one: There will be a finite supply of luna tokens, maximized at 1 billion coins in circulation. Luna does not have a stablecoin pair at the time of the launch. Are luna and luna classic risky? Investing in either luna classic (LUNC) or luna (LUNA) is highly risky at this point.