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Although they're used interchangeably by many in the crypto space, Terra and LUNA have different meanings. 'Terra' is used to refer to the blockchain network as a whole, while 'LUNA' is the actual token that you can buy or sell. It's the same as the difference between 'Ethereum' and 'ETH'.

It’s a decentralised proof of stake blockchain protocol that leverages a native token, stablecoin protocol oracle system and [smart contracts](/learn/what-are-smart-contracts/) to create programmable money for the internet that is used by people all over the world. Fundamentally, Terra helps build stablecoins with instant settlement.

Terra stablecoins hold their peg using a price-stability algorithm that automatically alters the supply of an asset to ensure that it maintains its peg. This gives the assets a stable price, whether in AUD, USD or other currency. That means the only way to increase the market cap of a stablecoin is to increase the supply as new dollars flow into the ecosystem, as the Terra stablecoins remain pegged to other currencies. It’s important to note that the stablecoins created on the protocol are different to LUNA, the Terra protocol's native token. On this page, you can buy LUNA priced in AUD.

Its reliable proof-of-stake blockchain and innovative technology has attracted many investors to buy LUNA, who see it as a better stablecoin than its competitors. Unlike other stablecoins, Terra reduces centralisation with a protocol that functions across multiple blockchains. This is known as interoperability and is made possible thanks to Cosmos. As a result, the market cap of Terra has grown rapidly and is now one of the top-ranked coins in crypto. If Terra transactions continue to grow at a faster rate than its competitors and the stablecoins successfully maintain their price stability, investors may continue to buy Terra over its competitors.

At the moment, Terra is live on both the Ethereum and Solana blockchains. There is already a roadmap in place for developers to make it interoperable with more blockchains in the near future. Some investors believe these events will have an impact on the Terra LUNA price.

Much like other stablecoins, Terra (LUNA) is permissionless and decentralized, making it an ideal fit for the growing digital economy. It’s especially practical for the DeFi space, which greatly benefits from the lower volatility of stablecoins in comparison to other [crypto assets](/trade/cryptocurrencies/).

Within the crypto ecosystem, developers are building Dapps (decentralised apps) using the programming languages Rust, Go and AssemblyScript. They then integrate data from [oracle services](/learn/what-is-an-oracle/) like Chainlink, such as the price of a fiat currency that a stablecoin is pegged to.

Some of the [stablecoins](/learn/what-are-stablecoins/) running on the Terra protocol include TerraUSD (UST) which is pegged to the US dollar, TerraKRW (KRT) which is pegged to the South Korean won, and TerraSDR (SDT), which is pegged to the IMF’s SDR unit of account. This is only the beginning for LUNA in crypto, as developers plan to build even more stablecoins on the protocol.

Remember, the LUNA coin price is not pegged to AUD. As the native token for the project, it is used for staking, paying gas fees, and for governance on the platform. Moreover, many people hold the token as an investment, as they believe they see the project as a long-term investment. Others trade it, buying when they consider the AUD LUNA price to be low and selling when they see the AUD LUNA price as being high.