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LUNA

Terra aims to facilitate mass adoption of cryptocurrencies and digital assets by supporting tokens algorithmic stablecoins which maintain price parity with fiat currencies (such as USD, EUR, CNY, GBP etc). Users mint new stablecoins on Terra by burning Luna tokens and thereby reducing the available supply of Luna. Luna holders can earn staking rewards and participate in network governance. 

Terra aim to support stablecoins via a combination of decentralized oracle voting and market arbitrage opportunities, such as when a user is able to buy a token for a price on one exchange and sell for a higher price on another exchange thereby putting a correcting price pressure on the asset towards it’s nominal peg.     

The TerraSDR, the base stablecoin of the Terra system, is designed to track the price of IMF’s Special Drawing Rights (SDR) reserve asset. Since all stablecoins issued on Terra require the burning of Luna, there is a sensible correlation between Terra usage and Luna’s price appreciation. 

A primary use case of Terra is lower transaction fees on payments. CHAI, a mobile payments app utilizing Terra as a settlement layer for transactions within the app, saw approximately a quarter of a million users over the past 90d period (as of time of writing). 

The value in a truly price stable asset is protecting holders from price fluctuations while holding or utilizing tokens in their various capacities as money (i.e. store of value, medium of exchange or unit of account). 

In addition to affording the option of participating in governance of the Terra protocol and earning rewards for participating in consensus, network participants might believe that Luna’s token mechanics will drive value capture for Luna tokens as the Terra network gains traction.

SOL

Solana is a layer one (L1) smart contract protocol developed to enhance network scalability and performance. The Solana ecosystem is supported by its own native cryptocurrency, SOL, an SPL token that operates similarly to the well-known Ethereum ERC-20 tokens. Through the SOL token, Solana has the ability to host decentralized applications (dApps), marketplaces, and other protocols to support a growing decentralized financial (DeFi) ecosystem.

Solana is unique in that it operates through two key consensus algorithms: Proof of Stake (PoS), and a brand new timestamp algorithm called Proof of History (PoH). Employing this combination of algorithms allows Solana to operate at high speeds, achieving robust scalability while ensuring low transaction costs for users.

Solana Co-Founder Anatoly Yakovenko published the first PoH whitepaper in 2017 after being a key member of Qualcomm, a communications and wireless technology company. Upon partnering with fellow Co-Founders Greg Fitzgerald and Stephen Akridge (also former members of Qualcomm), the project was officially branded Solana in 2018. The Solana blockchain is currently run by Solana Foundation—an organization that spawned from the formerly-established Solana Labs in April 2020 after the official launch of the Solana Mainnet as it is known today.

AVAX

Avalanche (AVAX) is an advanced, multi-purpose blockchain platform launched in September 2020 by Ava Labs, led by Emin Gun Sirer. The platform has been designed to function as a secure, decentralized and globally distributed network. In addition, it was developed as a quick, cost-effective and environmentally friendly alternative to Ethereum (ETH). According to Ava Labs, Avalanche is the fastest smart contracts platform in the blockchain industry in terms of finality.

Avalanche is a "platform of platforms," consisting of thousands of subnets that form together to connect a single interoperable network. Ultimately, the network aims to solve the “blockchain trilemma,” which identifies scalability, security, and decentralization as the three (3) main problems facing blockchain technology. Using its own consensus mechanism, the Avalanche Consensus Protocol, Avalanche employs three (3) different blockchains to create a trustless, interoperable framework on which developers can build. Likewise, the Avalanche network also functions as a payment processor for peers to transact with its native cryptocurrency token, AVAX.