Terra is a blockchain protocol built on the Tendermint — Cosmos SDK that supports stable programmable payments and open financial infrastructure development. It is supported by a basket of fiat-pegged coins, including UST, that are stabilized by its native crypto-asset, LUNA.

The Terra network has created a suite of stablecoins for decentralized finance (DeFi) and traditional finance (TraFi) platforms. For example, its infrastructure powers Mirror Protocol, a decentralized exchange built on Terra and Ethereum, and CHAI, a South Korean payment network that has amassed over 1.3 million users to date. Terra achieves price stability by algorithmically adjusting its supply according to fluctuations in demand for LUNA and its stablecoins.