{"document_id":"BLC-PAPER-0007","slug":"terra-money","title":"Terra Money: Stability and Adoption","authors":"Do Kwon","year":2019,"date_label":"2019. The study names Do Kwon. Other names appear on some circulating copies and are not added here until reconciled.","publisher":"Terra","paper_type":"Failure case","category":"Credit and stable value","topics":["Stable value","Seigniorage"],"source_url":"https://agora.terra.money/","source_label":"Terra research archive, as cited by the study","legacy_pdf_path":null,"sha256":null,"sha256_note":"No hash is published. This build does not store those PDF bytes, so a checksum would be invented. Where a legacy path exists, it points at the Internet Archive copy of the old library.","version":"The 2019 design paper. Not a description of any later chain that reused the name.","doi":null,"rights_status":"Official external source only","source_status":"Official source","use_status":"Metadata and commentary only. Not a design to copy.","licence":null,"licence_label":"No licence recorded. Rights status under review.","full_text":null,"full_text_reason":"Full text is not published on this page. Public availability is not a licence to republish a document. Blockchain Lab has not recorded a licence that permits an HTML transcription, a training set, or a retrieval corpus of the paper. Text on this page is Blockchain Lab's own wording, or a pointer to a study that is also Blockchain Lab's wording.","editorial_line":"The 2019 paper proposes fiat-pegged tokens stabilised by an arbitrage against a second, volatile token. This library keeps it as a failure case, not as a blueprint.","canonical_url":"https://blockchainlab.com/whitepaper/terra-money","record_url":"https://blockchainlab.com/research/corpus/papers/terra-money","study_url":"https://blockchainlab.com/whitepaper/terra-money","last_reviewed":"2026-10-01","last_checked":"2026-10-01","relationships":[{"rel":"Canonical reading","label":"Terra study","href":"/whitepaper/terra-money"},{"rel":"Failure record","label":"Terra / UST failure","href":"/learn/failures/terra-ust"},{"rel":"What changed","label":"What changed","href":"/learn/what-changed/terra-money"},{"rel":"Different design","label":"Maker, collateralised","href":"/whitepaper/maker-dai"},{"rel":"Concept","label":"Stablecoin","href":"/learn/concepts/stablecoin"}]}