Terra (LUNA) is a blockchain platform that aims to create a stable global payment system by offering a range of stablecoins pegged to various fiat currencies. It uses a dual-token system, with LUNA serving as the governance and staking token, while stablecoins like TerraUSD are used for transactions. Terra’s network also includes decentralized applications and DeFi protocols that leverage its stablecoins for various financial services. The project has gained popularity for its innovative approach to stability and scalability in the cryptocurrency space.