Bonded Luna (bluna) Price Index
The live price of Bonded Luna is $0.00 per (Bonded Luna / USD) today with a current market cap of $0.00B USD. 24-hour trading volume is $0.00B USD.Bonded Luna to USD price is updated in real-time. Bonded Luna is 0.00% in the last 24 hours. It has changed a market cap of $0.00B USD.
Live Bonded Luna Price Chart
Overview: What is Bonded Luna?
bLuna tokens are bAssets designed for the Terra blockchain, with their value supported by Luna delegates. bLuna tokens are fully compliant with the CW20 standard and can be implemented into a vast array of decentralized financial apps.
This documentation focuses solely on bLuna's high-level features. Refer to the Lido Terra Docs for more detailed documentation on bLuna and stLuna.
bLuna Exchange Rate
The bLuna exchange rate is the conversion rate utilized when bLuna are created or redeemed. Initially defined as the number of bonded Luna per bLuna in existence, the value lowers with cutting events.
Shared Danger of Slashing
bLuna coins share losses proportionally when whitelisted validators are slashed. Slashing occurrences reduce the bLuna exchange rate, decreasing the token's computed value.
The protocol imposes a 0.5% tax on bLuna mints and burns anytime the exchange rate falls below 1, aiming for a gradual return to a 1:1 peg.
Validator Whitelist
The bLuna contract maintains a whitelist of validators and only allows delegations to those on the list. This is essential, as all bLuna tokens bear slashing risks equally, and delegations to low-performing validators could severely impact all holders.
Minting bLuna
By delegating Luna through the bLuna contract, bLuna tokens are issued. Given a single delegation, the precise number of validators who will receive delegates and the amount they will receive relies on the current stake distribution.
The contract accepts a sorted (ASC) list of validators, calculates the desired amount that each validator should have target stake = (total delegated + delegation amount) / number of validators, and starts adding stake up to the desired amount, beginning with the validator with the least stake. The actual amount of a single delegation is determined as target stake minus validator stake, and you will have as many delegations as are required to "drain" delegation amount.
The amount of minted bLuna is based on the current bLuna exchange rate; when the bLuna exchange rate is below 1, the amount of minted bLuna will exceed the amount of Luna delivered.