Validators process transactions and receive fees from users (supply-side fees).

Terra is a smart contract platform for decentralized applications (a blockchain). Terra was founded by Daniel Shin and Do Kwon and launched in 2018. Terra Classic's stablecoin UST collapsed in 2022 due to a cryptocurrency equivalent of a bank run. Terra was forked shortly after, leading to the current Terra and its predecessor Terra Classic. This dashboard tracks the new Terra blockchain.

LUNA holders own and govern the protocol. They take a cut of the total transaction fees paid by users (revenue) that is then rewarded to contract owners (cost of revenue). Terra’s investors include Coinbase Ventures, Galaxy Digital, Pantera Capital, etc.

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Terra

# Terra Token holders Methodology

## 1. Overview

The Terra tokenholders metric measures the total number of unique addresses holding LUNA tokens on the Terra blockchain on a daily basis. This metric provides insight into the distribution and adoption of Terra's native token by counting distinct wallet addresses with non-zero LUNA balances. The calculation processes Terra blockchain data daily to identify all addresses holding LUNA and aggregates them into a single count per day.

## 2. Data sources

The calculation uses the following data sources:
- **Terra blockchain transactions**: Native Terra blockchain transaction records containing account activity and token movements
- **Terra token transfer events**: Parsed `Transfer` events and native token movement records from Terra blockchain logs
- **Terra account balances**: Account balance snapshots and staking position data from Terra validators
- **Daily timestamp data**: Date partitioning for daily metric aggregation and incremental processing

## 3. Step-by-step calculation

### Component A: Native tokenholder identification
- **Purpose**: Identifies all unique addresses holding LUNA tokens on Terra blockchain
- **Logic**: The system processes Terra blockchain data to identify addresses with LUNA token holdings. This includes analyzing token transfer events, account balance changes, and staking positions to determine which addresses currently hold non-zero amounts of LUNA tokens. The calculation considers both liquid LUNA holdings and staked LUNA positions when determining tokenholders.
- **Key fields**: The component tracks `timestamp` for daily aggregation, `chain` for Terra network identification, and `tokenholders` count representing the number of unique addresses

### Component B: Data standardization and filtering
- **Purpose**: Standardizes the tokenholder count data and applies quality filters
- **Logic**: The raw tokenholder count undergoes type conversion to handle large numbers accurately using bignumeric precision. The data is then processed through the finalization macro which adds standardized project metadata, ensures proper timestamp grain formatting for daily aggregation, and applies chain availability filtering to exclude periods where Terra blockchain data may be incomplete or unreliable.
- **Key fields**: The standardized output includes `timestamp`, `timestamp_grain` for daily boundaries, `chain_id` for network identification, and the final `tokenholders` count

### Final aggregation
- **Combining components**: The native tokenholder data flows directly into the standardization component without additional joining or summing, as the underlying calculation already provides the daily unique address count
- **Currency conversion**: No currency conversion is required as this metric represents a count of addresses rather than token values
- **Time aggregation**: Data is aggregated at daily boundaries using timestamp grain logic, with incremental processing handling only new or updated daily partitions
- **Final calculation**: The final metric value is the daily count of unique Terra addresses holding any amount of LUNA tokens, including both liquid holdings and staked positions, processed through standardization and quality filtering to ensure data consistency

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Unique addresses holding a non-zero balance of the project's native token.

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