RE: A Look At Terra LUNA Debt | Data on LUNA and UST Supply, Market Cap And Debt

I love LUNA, but the answer is not very decentralized. You can tell this by looking at the initial distribution percentages + the Validator selection screen it will tell you what % of the total supply the validator holds in his personal wallet. There are individuals who own over 1% of the entire supply, just 1 person or company alone. It is also basically a VC coin owned by a company and bunch of corporate investors + the number of validators is pretty low, it is only 130 right now. I have been told that there are changes coming to slowly improve these issues, but we will see.

I normally never invest in centralized coins, but the mint & burn system is so vastly superior to other stablecoin issuance that I made an exception for LUNA. The other mint & burn coin is called Haven Protocol, which also has the same system for stablecoins (with some changes and improvements such as lower fees for trades compared to LUNA), but which also has the added benefit of being the first ever blockchain to issue PRIVATE stablecoins, using Monero privacy tech, I recommend this coin too if you like the system that LUNA uses.

But overall despite it being a centralized coin for the moment, LUNA is still a solid coin.