Terra Luna is the second native token of the Terra protocol, developed by Terraform Labs, a South Korean based company that aims to offer an algorithmically-governed, seigniorage share style stablecoin platform called Terra. Each Terra stable coin can be converted into the original token LUNA, instead of using legal currency or over-mortgaged cryptocurrency as a reserve. The Luna token was created to protect the integrity of Terra mechanisms by locking value within the Terra ecosystem through staking. Users have the option to bond Luna tokens and generate rewards for the elevator and validator it is bonded to. This is considered the same as staking.