Terra is a blockchain payment network of decentralized stablecoins. Terra's native currency Luna was made for governance and mining and used to issue stablecoins, pay network fees, and participate in governance votes.
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- What is the definition of MarketCap, Staked Value, and Participating %?
- How to stake LUNA?
- How much can I earn staking LUNA?
- What are the requirements for staking LUNA?
- Is there a risk to stake LUNA?
At the top of the page, we have 3 metrics per asset. For Terra these are defined as follows:
Market Cap – the USD value of all the Terra currently in circulation. This does not include any tokens that are still unvested or locked; such as Team Tokens or Unvested Presale tokens.
Staked Value – the USD value of all the Terra currently being used to stake. Some assets, such as Terra, allow unvested tokens to be staked. That is why Staked Value can be close to, or in some cases, even higher than the Market Cap.
Participating – the percentage of eligible tokens that are being staked. In the case of Terra, unvested tokens can also be staked and therefore the staked percentage might seem lower than what you would expect looking at Staked Value vs Market Cap. In this case, the Participating rate would be Staked Value divided by Fully Diluted Value.
There are two ways to earn rewards with Luna; either directly staking through being a validator delegate by running a validator node and being one of top 100 in terms of delegated Luna, or by delegating Luna to one of such validators.
Delegating LUNA is very easy, secure and can be done within a few minutes directly inside the wallet. For specific instructions this guide is very helpful.
Rewards from staking are based off transaction volume inside the Terra economy, taxes and seigniorage rewards (value gained from issuing new Terra).
It is a huge responsibility to run a validator, so it is easiest to stake through delegating your Luna. As a delegator, there is no minimum requirement to stake Luna.
Terra is a stablecoin protocol, but Luna does not have the stability properties of the Terra coins, which it collateralizes.
If you stake Luna, you will not be able to have access to it for at least 21 days as they will be locked.
Validators have a responsibility to report exchange rate price accurately and keep solid architecture, and those who underperform risk being slashed a small percentage. To minimize this risk as a delegator, you should split large stakes among several reputable validators and keep your delegates in check.