Terra is a decentralized stablecoin blockchain that uses fiat-pegged stablecoins to power price-stable global payments systems. Terra’s native token LUNA is used to stabilize the price of the protocol’s stablecoins. Started on May 9, Terra (Luna) has collapsed, losing more than 99 percent of its value due to its link to terraUSD (UST), a stablecoin which was pegged to the US dollar.