Terra

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