{"product_id":"terra-crypto-luna-token-tea-coffee-mug-gift","title":"Terra Crypto LUNA Token Tea Coffee Mug Gift","description":"\u003cp\u003e\u003cb data-path-to-node=\"0\" data-index-in-node=\"0\"\u003eTerra (LUNA)\u003c\/b\u003e is the native cryptocurrency of the Terra blockchain, a network originally created by \u003cb data-path-to-node=\"0\" data-index-in-node=\"99\"\u003eTerraform Labs\u003c\/b\u003e and co-founder \u003cb data-path-to-node=\"0\" data-index-in-node=\"129\"\u003eDo Kwon\u003c\/b\u003e to power a system of decentralized algorithmic stablecoins. Its primary function was to maintain the $1 peg of its sister token, \u003cb data-path-to-node=\"0\" data-index-in-node=\"266\"\u003eTerraUSD (UST)\u003c\/b\u003e, through a unique mint-and-burn arbitrage mechanism; users could always swap $1 worth of LUNA for 1 UST, and vice versa. However, the project is most infamous for its catastrophic collapse in May 2022, where the peg failed and triggered a \"death spiral\" that hyperinflated the LUNA supply and wiped out approximately $40 billion in investor value within days. Following the crash, the blockchain split into two: the original chain was rebranded as \u003cb data-path-to-node=\"0\" data-index-in-node=\"729\"\u003eTerra Classic (LUNC)\u003c\/b\u003e, while a new chain was launched retaining the name \u003cb data-path-to-node=\"0\" data-index-in-node=\"801\"\u003eTerra (LUNA)\u003c\/b\u003e, this time without the algorithmic stablecoin component.\u003c\/p\u003e","brand":"Cool Raccoon","offers":[{"title":"Default Title","offer_id":52772561650001,"sku":null,"price":11.99,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0998\/4635\/7329\/files\/LUNALMUG.jpg?v=1767878563","url":"https:\/\/cool-raccoon.myshopify.com\/products\/terra-crypto-luna-token-tea-coffee-mug-gift","provider":"Cool Raccoon","version":"1.0","type":"link"}