The Terra ecosystem underwent a major event in 2022 that led to its split into two independent blockchains, each with its own token: Terra Classic (LUNC) and the new Terra (LUNA). Therefore, when discussing the “Terra supply,” it is necessary to specify which token is being referred to.
Circulating Supply and Total Supply of Terra Classic (LUNC)
Terra Classic (LUNC) is the token of the original Terra blockchain, which was renamed Terra Classic following the UST stablecoin de-pegging incident in May 2022. Due to the over-minting triggered by that incident, LUNC’s supply increased significantly.
- Total Supply: As of August 2022, the total supply of Terra Classic (LUNC) was approximately 6.9 trillion tokens.Other data indicates that as of December 2024, the total supply was approximately 6.51 trillion, while data from May 2026 shows it at 6.46 trillion.
- Circulating Supply: As of August 2022, the circulating supply of LUNC was approximately 6.5 trillion. More recent data (as of December 2024 and May 2026) indicates that its circulating supply is approximately 5.5 trillion.
- Max Supply: LUNC’s max supply is generally considered to be infinite (∞), although some data lists it as 6.45 trillion.
LUNC’s supply surged from 343 million to 6.53 trillion during the 2022 incident, causing its value to plummet. Although the community has worked to reduce the supply through burning mechanisms, it will take decades to return to pre-incident levels.
Terra (LUNA) Issuance and Circulating Supply
The new Terra (LUNA) is a blockchain protocol launched via a community vote (Proposal 1623) following the collapse of the original Terra chain in May 2022; it is commonly referred to as Terra 2.0 or LUNA 2.0.
- Total Supply: The new Terra (LUNA) was set at a total supply of 1 billion tokens at genesis. Other data indicates a total supply of approximately 1.19 billion tokens.
- Circulating Supply: As of July 2026, LUNA’s circulating supply is approximately 709 million tokens. Some data also indicates a circulating supply of 744 million tokens.
- Max Supply: The new LUNA typically has no explicitly defined maximum supply cap, or is listed as “N/A.”
The new LUNA tokens were distributed via an airdrop to users affected by the original Terra Classic collapse, including LUNA stakers, holders, UST holders, and core application developers on Terra Classic. The new Terra chain no longer supports the algorithmic stablecoin UST.
Summary
The Terra ecosystem currently consists of two main tokens:
- Terra Classic (LUNC): Both the total supply and circulating supply are in the trillions, and the maximum supply may be unlimited.
- Terra (LUNA): Total supply is 1 billion (or approximately 1.19 billion), with a circulating supply in the hundreds of millions; there is no clearly defined maximum supply cap.
The vast disparity in the issuance and circulating supply of these two tokens reflects their different roles and market conditions within the evolution of the Terra ecosystem.
