Terracoin (TRC) launched in 2012 with the aim to create an easier to use replacement of fiat currencies that can be adopted the world over. In an effort to empower the users of TRC decentralized governance and masternodes were added in 2017. Terracoin was one of the early forks of Bitcoin, and since its creation developed features such as: Two-tier network with incentivized nodes and decentralized governance (Masternodes), Instant payments (InstantSend), optional privacy (PrivateSend), Dark Gravity Wave v3 difficulty adjustment, SHA256d algorithm with AuxPoW merge mining, multitude of wallet choices, easy to use multi-signature addresses through the lightweight wallets and 2 minute block times.
Terracoin held no ICO and no premine. The initial distribution for Terracoin was a fair launch.