Contents
- 1 Overview of Terra
- 2 Blockchain
- 3 Mine
- 4 Network
- 5 Support
- 6 Transactions
- 7 How can we help?
- 8 How do I know what to study?
- 9 How do we get other banks involved?
- 10 How does ING’s Terra approach work?
- 11 How does the PACTA methodology work?
- 12 How Is the Terra Network Secured?
- 13 How Many Terra (LUNA) Coins Are There in Circulation?
- 14 I was told I should apply for Financial Aid – what is that?
- 15 Want to get involved?
- 16 What academic support do you offer throughout my college experience?
- 17 What are the next steps?
- 18 What else do we do on climate?
- 19 What is IPUMS?
- 20 What Is Terra (LUNA)?
- 21 What is the 2° Investing Initiative and why is ING working with them?
- 22 What kind of methodology does ING use?
- 23 What Makes Terra Unique?
- 24 Where Can You Buy Terra (LUNA)?
- 25 Where does ING’s portfolio stand according to climate alignment measurement?
- 26 Who Are the Founders of Terra?
- 27 Why is this methodology so important?
- 28 History of Terra
Overview of Terra
Sia is a decentralized cloud storage platform similar in concept to Dropbox and instead of renting storage space from a centralized entity, clients rent storage space It’s significantly cut into our investment opportunity and also made it very
Sia is a decentralized cloud storage platform similar in concept to Dropbox and instead of renting storage space from a centralized entity, clients rent storage space It’s significantly cut into our investment opportunity and also made it very
Blockchain
Mine
However, there is inherent volatility in unit mining rewards, since miner reward is directly correlated with economic cycles of the Terra economy — the more transactions, the more you make in transaction fees.Staking has to be a long-term commitment to maintain the economy.This means miners must remain incentivized to stake LUNA during all market conditions.
Network
The Terra ecosystem has also grown to include the Anchor Protocol and Mirror protocol, both of which serve to drive demand for the Terra stable coin and LUNA native currency, further securing the network and stabilizing the ecosystem.
Support
Far from opposing Amaris, many Terrans in fact supported him – first in accepting his deposition of the incompetent Richard Cameron, and later against the Star League Defense Force’s leader Aleksandr Kerensky when the latter invaded the Hegemony.It was only when Terra itself was devastated by the SLDF invasion and the atrocities of Amaris’ increasingly desperate forces that public opinion turned against the Usurper.Terra’s golden age came to an end with the Amaris Coup of 2767, and the subsequent Amaris Civil War.The post-war purging of Amaris collaborators and Kerensky’s Exodus left Terra and the Hegemony without any effective government, and consequently the Hegemony was defenseless against the depredations of the Great Houses.
Transactions
Terra uses a price stabilization algorithm that constantly changes an asset’s monetary supply to maintain its worth to accomplish this mission.Thus, Terra can offer users lower charges, more excellent stability, transparent cross-border transactions, and reliable financial properties.
How can we help?
Terra State has several Admissions representatives that are here to make the process
easy! We’d love to hear from you if you have any questions or just want to say hi.
How do I know what to study?
Each program has a variety of degrees and/or certificates that you can earn but we
suggest starting with what field or potential occupation you might like.Explore the
different options below and then talk with our career advisors about how to find your
best fit and career planning.
How do we get other banks involved?
We’ve been speaking with other banks and stakeholders, building partnerships and coalitions that are bigger than just us.We believe all banks would benefit from having an industry-wide standard, increasing transparency and therefore our collective effectiveness in fighting climate change.For this reason, ING was joined in December 2018 by the global banks BBVA, BNP Paribas, Société Générale and Standard Chartered in signing the Katowice Commitment – a pledge to steer our portfolios toward the well-below two degree goal of the Paris Climate Agreement and work together to further refine the metrics and tools needed to do this.In September 2019, the Katowice Commitment formed the groundwork for the UN-backed Collective Commitment to Climate Action, signed by ING and 30 other banks that together represent $13 trillion in loans.PACTA for Banks, the open-source methodology we co-created with 2DII, was released in September.Then ING and the four other Katowice banks published our blueprint for how we will put the tool into practice.
How does ING’s Terra approach work?
ING is focusing on the sectors in our loan book that are responsible for most greenhouse gas emissions: power generation, fossil fuels, automotive, shipping, aviation, steel, cement, residential mortgages and commercial real estate.We are measuring whether our lending in each sector is adding up to contribute to the Paris climate goals.We’re able to do this because we co-created an innovative, accurate way to measure the climate impact of our portfolio.Per sector, we use the most appropriate methodology available, acknowledging that there are more ways to Paris and in the end it’s the impact that counts.
How does the PACTA methodology work?
Detailed technology roadmaps for each sector are being developed by independent organisations like the International Energy Agency.These are used as benchmarks.An IT tool compares the data from the sector roadmaps to data on the technology our clients are using today and planning on using in the future.This client data comes from global databases that track public and private companies of various sizes around the world.This makes it easy for clients, as they aren’t required to provide any data themselves.In the automotive sector, for example, we measure the current mix of our clients’ production of internal combustion engine vehicles compared to zero-emission vehicles and how clients plan to shift this balance over time.We can then compare this with what science-based transition pathways prescribe for the automotive sector in order to reach the below-two-degree goal.The analysis doesn’t only tell us what needs to shift, but also how much and by when.This is where financing comes in – and where ING can have an impact.PACTA for Banks was published in September as an open-source tool, then ING and four other banks published our blueprint for how we will put it into practice.
How Is the Terra Network Secured?
The Terra blockchain is secured using a proof-of-stake consensus algorithm based on Tendermint, in which LUNA token holders stake their tokens as collateral to validate transactions, receiving rewards in proportion to the amount of LUNA staked.Tokenholders may also delegate others to validate transactions on their behalf, sharing in any revenue generated.Terra also offers additional guidance to validator nodes on the best practices for helping to keep the network secure.
How Many Terra (LUNA) Coins Are There in Circulation?
Terra has a supply of 1 billion tokens.If this number is exceeded, LUNA is burned until it returns to the equilibrium supply level.New LUNA tokens are minted through the protocol's algorithm, as needed, in order to maintain the price of Terra stablecoins.
I was told I should apply for Financial Aid – what is that?
Financial aid is money to help pay for college and includes grants, work-study, loans,
and scholarships.Here at Terra State our goal is to help you navigate your way through
the regulations and help you find the best options for you to pay for your education.
Want to get involved?
Contact us at sustainability@ing.
What academic support do you offer throughout my college experience?
We are here for you every step of your journey! After you are admitted, we continue
to offer advising to make sure you stay on track, tutoring services, disability services,
and more.
What are the next steps?
We now know where we are and where we should be heading.We’ve set targets and timelines, and we’ve started steering by engaging with our clients and making choices in financing.This milestone marks a new phase in our journey.We’re not there yet.But we’ve definitely moved beyond commitments and are living up to our promise to take action and transparently deliver results.We will continue to monitor and report on our progress.
What else do we do on climate?
There are many ways we are working to combat climate change.For example, our commitment to reduce our coal exposure to close to zero by 2025, and the way our sustainability improvement loan rewards companies for their sustainability performance.We’ve financed billions of euros of wind farms, solar energy, and geothermal power production.Read more on our approach to climate action.
What is IPUMS?
IPUMS stands for data integrated across time, space and scientific domains.IPUMS makes it easy to study change and conduct comparative research–by imposing consistent codes, supplying detailed documentation, and creating customized datasets.Data and services are available free of charge.Learn more about IPUMS.
What Is Terra (LUNA)?
Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems.According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements.
What is the 2° Investing Initiative and why is ING working with them?
The 2°Investing Initiative (2DII) is the leading global think tank on developing climate and long-term risk metrics and related policy options in financial markets.2DII coordinates the world’s largest research projects on climate metrics in financial markets, with over 40 research partners in the public, private and philanthropic sector, and over millions re-granted to research partners to date.It’s backed by bodies including the European Commission and various European governments, and supported by academics, expert groups and civil society.
What kind of methodology does ING use?
While ING’s Terra approach makes use of various methodologies, there is one that applies to most of the sectors in scope.This is the methodology ING co-created with the 2° Investing Initiative (2DII), a global think tank developing climate metrics in financial markets.It’s called PACTA for Banks.It looks at the technology shift that’s needed across certain sectors to slow global warming and then measures this against the actual technology clients are using – or plan on using in the future.
What Makes Terra Unique?
Terra seeks to set itself apart through its use of fiat-pegged stablecoins, stating that it combines the borderless benefits of cryptocurrencies with the day-to-day price stability of fiat currencies.It keeps its one-to-one peg through an algorithm that automatically adjusts stablecoin supply based on its demand.It does so by incentivizing LUNA holders to swap LUNA and stablecoins at profitable exchange rates, as needed, to either expand or contract the stablecoin supply to match demand.
Where Can You Buy Terra (LUNA)?
Terra's native token, LUNA, is listed on several cryptocurrency exchanges — including Huobi, Bitfinex and Upbit — where it is available to be traded against fiat currencies, stablecoins and other cryptocurrencies.
Where does ING’s portfolio stand according to climate alignment measurement?
We released our second Terra progress report (PDF 11.4 MB) in October 2020.It details our progress and targets on climate alignment in the nine sectors most responsible for climate change.For five of the sectors (automotive, power generation, residential real estate, commercial real estate, and cement) our current performance is outlined compared to last year’s performance.This year we also disclosed our climate alignment for the sectors fossil fuels, aviation, steel and shipping.With this, we fulfil our commitment to cover all nine sectors in scope by the 2020 report, including quantitative results and targets.The report’s Climate Alignment Dashboard shows that the nine sectors are mostly on track for climate alignment, with progress still needed in some.For example, the portfolios power generation, shipping, cement and steel are ‘on track’ for climate alignment, while residential real estate, automotive and aviation are ‘close to being on track’.See the report for more details.
Who Are the Founders of Terra?
Terra was founded in January 2018 by Daniel Shin and Do Kwon.The two conceived of the project as a way to drive the rapid adoption of blockchain technology and cryptocurrency through a focus on price stability and usability.Kwon took on the position of CEO of Terraform Labs, the company behind Terra.
Why is this methodology so important?
We feel it can change the way banks think about climate impact measurement, target setting and steering.Compared to other methodologies, this one is precise, tailored to each sector’s needs, forward-looking, and will ultimately have a bigger impact because it steers key sectors towards technologies that underpin a low-carbon future rather than only measure a carbon-rich past.