Lunaswap: A Safer And Cleaner Way To Swap Crypto By Lucky Luna Crypto
Swapping cryptocurrencies is vastly different from using an exchange platform and its in-built wallet to do so. The traditional way has always involved an exchange that levies certain fees or charges on users to simply convert one type of digital currency into another. But it did not take long for blockchain engineers to find an easier and safer alternative to this situation. Thus originated several thousands of crypto swap services that allow you to swap your digital assets seamlessly and without depending on a third party needlessly.
Seeing the market’s opportunity and needs, the team of Lucky Luna Crypto has launched LunaSwap V1, the initial phase of a secure and flexible swap platform. The specialty of LunaSwap is that it has been developed as an improvement to the existing exchanges by some of the best names in the software development field.
LunaSwap’s feature can be described as below;
- A lot safer to use
- Cleaner user interface
- More flexible
- Fully verified
- Created by experts
- Does not allow bots
- Currently in the testing phase
- Taxes are paid in Binance Coin (BNB)
Ensuring Safety on LunaSwap
The Lucky Luna Crypto team is ensuring the upcoming version of the LunaSwap V2 is going to be a cleaner and better exchange . This means that there will be a sophisticated system for onboarding new and promising projects on their platform. The primary members of all project teams will have to be verified, cross-checked, and interviewed on camera in order to pass the test and join LunaSwap.
The plans of releasing LunaSwap V2 are still under wraps, but according to Lucky Luna Crypto’s Chief Technology Officer and veteran software engineer, Diego Gomez says that it would reinvent a new standard of interacting with altcoin purchasing. Gomez also says that the Lucky Luna Crypto team has accomplished a task considered to be impossible by creating the Lucky Luna Token that charges taxes in BNB.
Expectations from LunaSwap
Going over the fact that each of the early adopters will be getting the Lucky Luna tokens and an upcoming V2 of the LunaSwap, this project has a lot to offer in the form of solid improvement by pushing the liquidity each time with BNB. Recently, Pecunia Invest joined the LunaSwap platform which makes it the first DeFi partner of the LunaSwap ecosystem. It is clear to see that the demand for the safest exchange would assist in LunaSwap’s objectives.
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Exchange LUNA (LUNA)
If you’re looking to swap LUNA, SwapSpace is your one-stop-shop. We have some light reading for you — in case you’d want a refresher on what is LUNA or some fresh information about LUNA’s price movements. And, of course, we provide you with the multiple LUNA exchange options so that you can choose the offer with the best rates and lowest LUNA fees, as well as other parameters that suit you.
LUNA Price Stats
To help you make a decision about exchanging your LUNA, we gathered some cold hard numbers: LUNA price chart and other stats, such as LUNA market cap.
LUNA 24H HIGH $0.51359496695408
LUNA MARKET CAP $550,504,569.479
LUNA CIRCULATING SUPPLY 1,119,927,236.055 LUNA
LUNA 24H LOW $0.47301673836126
LUNA PRICE $0.4915538722124
LUNA 24H VOLUME $21,971,686.488
LUNA Price Chart
Here you can see the current price of LUNA, as well as LUNA price history.
What is LUNA?
LUNA is the native token of the Terra blockchain, a platform at the forefront of revolutionizing decentralized finance (DeFi) through its innovative approach to stablecoins and scalable blockchain solutions.
Terra aimed to combine the stability and wide adoption of fiat currencies with the efficiency and programmability of cryptocurrencies. It achieved this by leveraging its family of algorithmic stablecoins, which are pegged to various fiat currencies. These stablecoins, including UST (TerraUSD), provide a stable and secure medium of exchange within the Terra ecosystem.
The Terra network was founded by Daniel Shin and Do Kwon. They co-founded Terraform Labs, the company responsible for the development of the Terra blockchain. The exact date of the network’s founding is unclear, as its development spanned several years. However, Terraform Labs began working on Terra as early as 2018, with the blockchain officially launching its mainnet in April 2019. Daniel Shin currently serves as the CEO of Terraform Labs, while Do Kwon is the co-founder and CEO of the company.
Terraform Labs, the driving force behind the Terra network, introduced the UST coin as an algorithmic stablecoin. In contrast to traditional fiat-backed stablecoins like USDC or Tether, UST operates on a different principle. Rather than being backed by real-world assets, the value of UST was supported by its sister token, Luna. This unique approach was supposed to ensure stability within the Terra ecosystem, creating a reliable and decentralized mechanism for maintaining the value of UST.
LUNA served as the native token of the Terra blockchain, akin to how Ether operates within the Ethereum network. In April, the value of a LUNA coin reached approximately $116, but eventually experienced a significant decline, plummeting to a fraction of a penny before being delisted. However, prior to this downturn, LUNA witnessed a remarkable ascent, with its value surging from less than $1 in early 2021. This substantial growth within a year resulted in the creation of numerous crypto millionaires who had invested in LUNA.
Following the collapse of Terra’s algorithmic stablecoin, TerraUSD (UST), the native token Luna suffered a severe crash. On May 7, a significant amount of UST was unstaked and liquidated, leading to a rapid decline in its price from $1 to $0.91. This triggered panic selling and a subsequent depegging of UST. As a result, Luna’s value plummeted, causing crypto exchanges to delist Luna and UST pairings. Ultimately, Luna became worthless and was subsequently abandoned.
Following the initial crash, Do Kwon presented a recovery plan for Luna, instilling temporary optimism in May. However, the coin eventually experienced a significant decline and was subsequently abandoned. In response, Terra launched a new coin, Luna 2.0.
The creation of the new Luna blockchain emerged as a strategic response to the significant losses suffered during the LUNA/UST crash. Terra and its investors sought a means to recover from the devastating impact of the crash. Recognizing the financial damages experienced by many, TerraLabs devised a plan to compensate investors. The establishment of a new blockchain and cryptocurrency was deemed the most effective approach to fulfill this objective. Luna 2.0 has no dependency on any kind of stablecoin, algorithmic or not.
Terraform Labs’ CEO, Do Kwon, is currently under investigation in South Korea following the LUNA/UST downfall. The allegations against Kwon include fraud, while reports suggest that Terraform Labs’ legal team has purportedly resigned amidst the scandal. Moreover, Kwon’s co-founder, Daniel Shin, is also under investigation as part of this ongoing inquiry.
Average Fees on Terra
On Terra, there is only one fee that applies to all transactions: the gas fee. The average gas fee on the Terra is around 0.015 LUNA.
There are several wallets that can be used to hold LUNA tokens, including MetaMask, Coinbase, ZenGo, Ledger Nano S, Trust Wallet, Trezor, Terra Wallet, Math Wallet, Guarda Wallet.
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