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LUNA is a cryptocurrency that is associated with the Terra blockchain project. It is a stablecoin, which means it is designed to maintain a stable value relative to a specific asset, such as the US dollar. LUNA is the native token of the Terra blockchain, and it is used to facilitate transactions and maintain the stability of the stablecoins that are issued on the Terra platform.

One of the main applications of LUNA is as collateral to issue stablecoins on the Terra platform. Users can purchase LUNA and then use it to mint stablecoins such as UST or KRT, which can be used for transactions and payments. The value of these stablecoins is pegged to specific assets, which helps to prevent the volatility commonly associated with traditional crypto coins.

LUNA also serves as a means of governance for the Terra blockchain. The platform's consensus model involves staking LUNA to participate in the network's decision-making process. LUNA holders can propose and vote on changes to the network's rules and protocols, and they can also earn rewards for participating in the consensus process through staking.

In addition, LUNA can be purchased and traded on various cryptocurrency exchanges. Its price is determined by market demand and supply, as well as by the success and growth of the Terra platform. As a cryptocurrency, LUNA can be used for speculative investment, hedge against inflation or as a store of value.