Skip to content
Blockchain LabTHE VENTURE STUDIO

Research corpusCredit and stable valueBLC-PAPER-0007

Terra Money: Stability and Adoption

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.

  • Official external source only
  • Failure case
  • Official source
Compare

Record

Authors
Do Kwon
Date
2019. The study names Do Kwon. Other names appear on some circulating copies and are not added here until reconciled.
Publisher
Terra
Version
The 2019 design paper. Not a description of any later chain that reused the name.
Document ID
BLC-PAPER-0007
DOI
None recorded
Last reviewed
1 October 2026
Licence
No licence recorded. Rights status under review.

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.

Direct answer

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.

Nothing in the mechanism adds collateral from outside the system equal to the stable supply. The study says that plainly.

Why it is in the corpus

  • It is the clean statement of a design that treats peg defence as expansion and contraction of a sister token.
  • The public failure is why the paper stays in the library. A failure case is still a primary source.

Where to read

Metadata and commentary only. Not a design to copy.

Full text

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.

Claims and assumptions

Blockchain Lab's reading of what the document is doing. Not a quotation and not the source text.

  • A stable unit and a volatile unit, minted and burned against each other.
  • The peg is an arbitrage argument. It assumes a market for the volatile unit.

Assumptions

  • Someone will trade toward the peg while the volatile unit still has a bid.
  • Adoption demand, funded by seigniorage in the paper's account, continues.

What changed

The design did not hold in public. The failure record and the what-changed note are the place to read the outcome. This page does not reconstruct a price chart or a loss figure.

Relationships

Construct with this

A pattern link for people designing a system. It is not a claim that this paper is a product specification, and it is not permission to copy anyone’s code.

Cite this record

These citations point at the source document. They are not a licence to copy it.

Author–date

Kwon, D. (2019). Terra Money: Stability and Adoption. Terra. https://agora.terra.money/

BibTeX

@techreport{terramoney2019,
  title = {Terra Money: Stability and Adoption},
  author = {Do Kwon},
  year = {2019},
  institution = {Terra},
  url = {https://agora.terra.money/},
  note = {Rights status: Official external source only. Blockchain Lab record: https://blockchainlab.com/research/corpus/papers/terra-money}
}

RIS

TY  - RPRT
TI  - Terra Money: Stability and Adoption
AU  - Do Kwon
PY  - 2019
PB  - Terra
UR  - https://agora.terra.money/
N1  - Rights status: Official external source only
ER  -

CSL-JSON

[
  {
    "type": "report",
    "id": "BLC-PAPER-0007",
    "title": "Terra Money: Stability and Adoption",
    "author": [
      {
        "literal": "Do Kwon"
      }
    ],
    "issued": {
      "date-parts": [
        [
          2019
        ]
      ]
    },
    "publisher": "Terra",
    "URL": "https://agora.terra.money/",
    "note": "Rights status: Official external source only. Not a licence to republish the paper."
  }
]

JSONBibTeX fileRIS fileCSL-JSON

Rights record

Source status
Official source
Use status
Metadata and commentary only. Not a design to copy.
Rights
Official external source only
Training and retrieval
Not permitted from this site. There is no rights-cleared full text to retrieve or to train on.

Rights and licensingCorrections

Useful next step