Terra Classic

What is Terra Classic?

Terra Classic is a decentralized, open-source Proof-of-Stake (POS) blockchain protocol. The network is the predecessor of Terra, with Luna Classic (LUNC) as the main currency on the network. Terra Classic was essentially an algorithmic stablecoin project, which failed in May 2022 with the UST Classic de-pegging event.

On May 25th, 2022, Terra Classic users passed governance proposal 1623, which outlined the genesis of the new Terra chain.

Stakin is a long-standing Terra Classic validator and early supporter; we have continued to provide infrastructure services to the network despite the events.

What is Terra Classic (LUNC) staking?

Staking is a great way for long-term crypto investors to earn passive income on their Proof-of-Stake cryptocurrency assets (such as LUNC) while taking part in securing the network.

Stakers, by delegating tokens to validators, give voting rights to these to validate transactions on the blockchain and propose new blocks. The more stake is attributed to a validator, the more it will be able to take part in the network consensus and earn rewards for its stakers.

A quick example: Suppose a blockchain network offers a 5% reward rate for a staking period of 1 year (5% APR). You decide to lock up and stake 100 tokens on the network. After a year, you can access your staked tokens and receive five additional tokens as your reward – minus eventual fees charged by the staking provider.

Staking Proof-of-Stake (PoS) cryptocurrencies such as LUNC does not require stakers to transfer their token to validators. It is a non-custodial process.

Why is Stakin a great choice for Terra Classic (LUNC) staking?

Staking your assets on your own is operationally challenging as it requires specialist expertise to set up nodes and ensure constant uptime to maximize rewards or prevent so-called slashing: partial loss of your staked cryptocurrencies due to prolonged downtime, or inappropriate/malicious behavior by the node operator.

Stakin is an excellent choice for staking your Terra Classic (LUNC) tokens, as we have a strong expertise and track record of reliable operations on this network. Stakin has been an active Terra Classic validator since April 2019, the first month of the network’s operation. We have extensive experience providing services for Tendermint and Cosmos SDK-based blockchains and other Tendermint-based blockchains.

There are several advantages when staking your Terra (LUNC) tokens with Stakin, such as:

• Triple AAA-rated institutional staking provider by Staking Rewards

• ISO 27001 certified staking provider

• Tracking dashboard, to easily track and generate reports for the performance of your staked assets

• Reliable infrastructure - We distribute our servers across various geographical locations and partner with premier bare metal and cloud providers

• Dedicated support for all your staking, unstaking, and network-related questions

• Institutional grade SLAs with uptime and slashing guarantees for both the validator and oracle operations

What kind of institutional services does Stakin offer for Terra Classic (LUNC) Staking?

As an institutional-grade Terra Classic node operator, Stakin has a full range of staking services and advantages to cater to the needs of enterprises and investors, such as asset managers, company treasuries, exchanges, VCs and hedge funds, wallets, custodians, and liquid staking services.

• Institutional grade SLAs with 99.5%+ uptime guarantees for both validator and oracle operations, and slashing guarantees

• Dedicated Account Manager to answer all your technical and commercial questions

• Whitelabel and dedicated nodes with dedicated infrastructure which can be deployed in your preferred region to fit decentralization or compliance needs

• 24/7 monitoring and alerting with a private dashboard for dedicated and Whitelabel nodes

• Free premium access to Stakin Dashboard, which includes staking data visualization across any validator, as well as premium historical data features (on selected networks)