CanonTerra
Terra: paper, then practice.
Terra's paper holds a dollar token by expanding and contracting LUNA. In May 2022 that mechanism broke. The paper is a failure case.
Do Kwon. 2019. Status: Failure case. Last reviewed: 1 October 2026.
- The paper. Do Kwon's 2019 paper for a family of fiat-pegged tokens stabilised by an arbitrage relationship with a second, volatile token. It is included because it is a canonical design paper that was not in the historic library. It is included as a failure case, not as a model to ship.
- Peg.
- What changed.
- Two kinds of peg.
- When it is the wrong rail.
What this chain does not claim
It does not rank a network, quote a yield, or say the live client still matches the paper. The full study keeps the limits. Primary source: Terra research archive.