What Is Terareum (TERA)?

Terareum.io is a centralized digital currency exchange platform that offers traders a protocol that helps them to perform transactions using a multifunctional Web3 interface. (The decentralized internet applications of the future are known as Web3 interfaces.) The exchange platform aims to facilitate for its users a secured gateway that expands access to finances globally through cryptocurrency. Consequently, the platform enables users to trade, store, lend, and stake crypto safely and securely in an insured way. 

According to the whitepaper, the exchange platform provides users with cryptographic encryption, multilayer security, and a transparent platform on which to trade and swap cryptocurrency. The platform acts as an intermediary and is responsible for conducting all trades and transactions. The high utility pairs enable the centralized exchange platform to conduct trading in a huge volume.

The platform aims to provide multiple services under one roof, including the Terareum.io exchange and dApp; the TERA NFT exchange (i.e., ERC 721-based cryptographic unique token with a minimum smart contract interface for managing, trading, and owing NFTs); and the Terareum debit card to top-up the TERA wallet or perform traditional currency transactions. 

Further, the Terareum platform seeks to prioritize security and technology by developing cyber resiliency plans to overcome any cyber-attacks. In fact, the platform intends to add a layer of security by keeping the exchange in regulatory compliance with its Know Your Customer (KYC) and anti-laundering (AML) checks. 

TERA is an ERC-20token with deflationary dynamics that include a 9% tax while trading the token. In a deflationary mechanism, the cryptocurrency is burned to increase the token's value over time. Cryptocurrency burning is when a fraction of tokens are sent to a wallet with no private key. This means such tokens are lost permanently. Tokens are burned to reduce availability and increase market value. In addition, the Terareum platform locks 75% of liquidity for a year, wherein 50% of tokens are burned under deflationary features.

History of Terareum (TERA)

Milton John is the founder and CEO of the Terareum ecosystem. Terarem LLC plans to establish its offices in Wyoming (USA), Dubai Silicon Oasis, and Tamil Nadu (India). The team published the Terareum whitepaper on February 1, 2022. As the whitepaper suggests, the exchange platform issued 100 quintillion TERA tokens for trading, staking, lending, swap, and other use cases.