Terra Classic is an algorithmic stablecoin platform, operating on a Proof of Stake (PoS) blockchain infrastructure built with Tendermint. It is home to the algorithmic stablecoin TerraClassicUSD (USTC).

After the depeg of USTC in May 2022, the community behind Terra Classic decided to create a new blockchain without the algorithmic stablecoins called Terra 2.0. The new LUNA tokens were airdropped to the old users that were affected by the depeg event.