Terra is a blockchain protocol built on the Tendermint — Cosmos SDK that supports stable programmable payments and open financial infrastructure development. It is backed by a group of fiat-pegged coins, such as UST, which are kept stable by its own native cryptocurrency, LUNA. Stablecoins have been developed by the Terra network for platforms in traditional finance (TraFi) and decentralized finance (DeFi). For instance, its infrastructure supports CHAI, a South Korean payment network with over 1.3 million members, and Mirror Protocol, a decentralized exchange based on Terra and Ethereum.

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