Chorus One is part of the validator set of the Terra Columbus mainnet that launched today. We are supporting Terra because we see the potential to bring real-world adoption to the Cosmos ecosystem by introducing low volatility assets with a clear cut go-to-market strategy.
About Terra Money
Terra Money is a project that aims to create a set of decentralized stablecoins. Decentralized stablecoins are tokens that are kept price-stable to their real-world counterparts such as USD and EUR, or even a basket of currencies (SDR).
Terra has a unique model making use of a staking token (LUNA) and income from fees generated by services utilizing the network (e.g. payment processors) to achieve stability.
LUNA holders absorb the volatility of Terra stablecoins via a protocol that facilitates the exchange of LUNA tokens and Terra stablecoins to hold the Terra stablecoins at their peg.
In return for absorbing the short-term downside volatility of Terra stablecoins LUNA holders get compensated through fees generated in the network. Additionally, LUNA holders are rewarded indirectly through a mechanism that burns a part of the LUNA supply when Terra stablecoins are minted (seignorage).
Furthermore, the team's has a unique plan to bring usage to the Terra network. They already have a network of partners that are committed to integrating with Terra and additionally have come up with a sophisticated solution of how to incentivize projects building on the network. Our recent interview with Do Kwon, Co-Founder of Terra Money, covers these topics in more detail. Watch our whitepaper walkthrough to fully understand all relevant mechanisms.
About the Chorus One Terra Validator
The Terra network is a PoS chain that processes transactions using Terra stablecoins. Validators on the Terra network charge a commission rate on the transaction fees generated by other projects (e.g. payment processors) integrating with the network.
Chorus One enables LUNA holders to securely stake their tokens and to receive rewards in the form of transaction fees.
You can find further information and delegate to our validator through your Ledger device on the Terra page of our website:
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