Terra [Luna] Blockchain- Crypto Academy/S5W4-Homework post for @pelon53

Hello friends, with joy of heart I welcome you to my assignment post given by @pelon53 on the topic Terra [Luna] blockchain.
This lecture promises to be very educative and interesting, please follow along as we embark on this wonderful adventure.

Terra station is a blockchain network that is powered by it's official cryptocurrency called Luna.
It happens to be the future generation blockchain network that will be used to make payments as it is interwoven with stablecoins.

Terra can also be said to be a programmable blockchain platform that makes available fiat-pegged stablecoins inorder to promote more stability when performing transactions or making international payments.

Terra is a blockchain that allows users to develop stablecoins that are pegged to fiat currencies, and created coins performs their operations in accordance to the network's seigniorage mechanism.

Terra network was founded in 2018 by Dokwon and Daniel shim from the Terra form labs.
The Terra network makes use of Delegated-proof of stake DPOS as it's consensus mechanism.

The Terra project is a very popular project in the Asian market and South Korea where it has its headquarters located.

Terra has successfully pegged it's stable coin to the South Korean won, us dollars etc and on the coinmarket cap, it has made it to the top 5 largest stable coin.

Having understood what the Terra station is, shall we proceed to exploring the station and connecting it to our wallet.

• The first step to take is to click here and the below page will appear

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On the above screenshot, we can see the Luna price which is 62.775371UST, tax rate which is 0.244% and many other features.

• Next, I clicked on connect wallet which is the second icon on the above Screenshot and the below appeared

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From the above screenshot, I could not find the option that best fits me, since I was making use of a mobile device.
So I visited my playstore to get the app downloaded.

^{Screenshot from playstore}

After installation, I proceeded to to open the app

^{SCREENSHOT FROM TERRA STATION APP}

I then clicked on new wallet,since I had no previously existing wallet. Then I proceeded to register and my account was successfully created

^{SCREENSHOT FROM TERRA STATION APP}

On the app, there are tlbasically three features to explore:

• Wallet

• Swap

• Staking

• WALLET:

^{SCREENSHOT FROM TERRA STATION APP}

As seen above, it is indicated that my wallet doesn't hold any coin yet and right below is an icon for me to add tokens.

By clicking on the add token, a new display will appear, asking me to search for the token I intend to add.
So I searched for Luna and the below appeared

^{SCREENSHOT FROM TERRA STATION APP}

I then decided to add LunaX to my list of tokens by clicking on the addition sign.
Then revisiting my wallet, it is seen that LunaX has been successfully added

^{SCREENSHOT FROM TERRA STATION APP}

• SWAP:

^{SCREENSHOT FROM TERRA STATION APP}
In this feature, a user is allowed to swap from one coin to another of his choice.

As seen above, I don't have any coin available for swapping, but to swap, a user will input the coin he intends to swap on the 1st box and the coin he intends to receive on the second box and then click on next and follow the instructions.

There's also room to swap multiple coins, by clicking on swap multiple coins, the below screenshot will appear and then you can proceed to input the amount you wish to swap.

^{SCREENSHOT FROM TERRA STATION APP}

• STAKING:
  This is a feature where you can delegate your assets and start earning rewards, and the higher your delegation, the higher the rewards.

Let's attempt to delegate, and see how it feels like.
Click on any of the validators as seen above, as for me , I clicked on the first one named staking funds

^{SCREENSHOT FROM TERRA STATION APP}

After this appeared, I clicked on delegate, and here I am asked to input the number of coins I wish to delegate.

^{SCREENSHOT FROM TERRA STATION APP}

Now to connect my wallet to it's site, I revisited the site and clicked on connect

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I then proceeded to click on select wallet, of which I inputted my password and username and my wallet became connected to the station

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I then proceeded to explore the following.

• DASHBOARD:

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On the dashboard display, information about the protocol is seen, the Luna price being 62.033472UST, tax rate, issuance and many more information.

• We can also choose to explore the wallet feature but this has been explored on the app.

• HISTORY:

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The history feature shows all the transactions that a user has made on the platform.

• GOVERNANCE:

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On the governance feature, a new proposal is shown, whereby one can choose to vote the proposal and the voting period is within the space of 7days.

On the governance page, there are other sub icons like ; Deposit, passed and rejected

Anchor protocol may be described as a savings protocol that is built on the Terra blockchain and provides a 20% low volatility rate to it's users.

This platform was developed and launched on March 17,2021 by the south-korea terra form labs.

The anchor protocol assisted to increase the UST demand and it acts as a money market between stable coins borrowers and lenders.

The borrower borrows stable coins by giving collateral in the form of stakeable assets while the lender deposit their asset on the platform and earn interest on it.

To explore the anchor protocol, visit here and the below will appear

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I then clicked on the dashboard icon as indicated above and the dashboard displayed on my screen

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As seen above, there are so many information that can be gotten from the dashboard page which will be explained later.
I then clicked on the wallet icon as indicated in the above screenshot, then the below image wo appear

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I then clicked on open terra station mobile, then a page appeared, requesting that I either allow or deny the permission to get my wallet connected to the anchor station, of which I clicked on allow and a page appeared, showing that my wallet has been successfully connected

• DASHBOARD:

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The dashboard clearly displays a lot of information about the protocol, it displays it's yield reserve, the total value of UST locked, the anchor circulating supply and many more information.

• MY PAGE:

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This feature allows a user to see everything relating to such one on the platform, things such as summary of claimable and unclaimed rewards, the total tokens posses by the username many more information.

• EARN:

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This feature allows a user to deposit and withdraw stable coins and also buy, just as seen above

• BORROW:

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This Page permits a user to borrow funds, repay borrowed funds and also participate in liquidation.

• BOND:

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This feature ease the interaction between users and bAssets tokens.

• Governance:
  The governance page allows users to create poll, join forum, trade in amd stake Inc tokens.

Mirror protocol can be explained to be a Defi platform which is supported by the holders of it's native token, the mirror token [ MIR]

It is a platform built on terra network, although it's synthesis asset which is generally known as mirror assests ( massets) can be found on binance smart chain and Ethereum network.

The platform permit the issuance of synthetic Assets by users and such assets helps in tracking the price of real world stocks.

The mirror token performs basically two functions;

• It functions as a governance token, which gives it's holders opportunity to vote on changes relating to the protocol.

• It also serves as rewards to it's users who help to make massets liquidity available to AMMs.

Now let's visit the mirror protocol, by clicking on the link, the below screenshot will appear

Souces

I then proceeded to click on connect located on the top right corner, and I connected to my terra station app by clicking next, the allow icon which allowed for a successful connection

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