LUNA Coin was originally the native token of the Terra blockchain, which aimed to create a stable and efficient financial system. It played a central role in the ecosystem, facilitating transactions, governance, and the minting of stablecoins like UST (TerraUSD).In 2022, LUNA faced significant turbulence following the collapse of the UST stablecoin. This incident resulted in a massive loss of value and raised concerns about algorithmic stablecoins. As a response, the Terra community initiated a hard fork that led to the creation of a new version of LUNA, often referred to as LUNA 2.0.The new LUNA aims to integrate community input and restore trust in the ecosystem. It is used for governance, allowing holders to vote on proposals and changes. As the project continues to evolve, LUNA’s role and value are closely monitored by investors and enthusiasts. With ongoing developments, it’s essential to stay updated on the project’s progress and market dynamics.