$LUNAR is an algorithmic stable token pegged 1:1 to $LUNA on Aurora blockchain. $LUNAR is our second pegged token in Polaris ecosystem with more tokens coming in the future.

$LUNAR also aims to become the primary utility token of the Aurora ecosystem. The selection, development, and deployment of the next generation of Aurora DeFi projects will be decided by those who holds $POLAR and $LUNAR governance token $SPOLAR.

$LUNAR token is designed to be used as a medium of exchange. The built-in stability mechanism in the protocol aims to maintain $LUNAR's peg to 1 $LUNA token in the long run. $LUNAR actively pegs via the algorithm, it does not mean it will be valued at 1 $LUNA all times as it is not collaterized. $LUNAR is not to be confused for a crypto or fiat-backed stablecoin.