TerraUSD (UST) - a decentralized and algorithmic stablecoin of the Terra blockchain. It is a scalable, profitable coin, pegged to the US dollar.
Contents:
History of TerraUSD (UST)
TerraUSD has appeared to benefit the Terra community and offer a scalable DeFi solution amid severe scalability issues, faced by other stablecoin leaders such as Dai. Thus, the project promises users accurate interest rates and cross-chain usage.
TerraUSD provides several benefits that have made it an outstanding stablecoin competitor:
| Requirements | Through the minting mechanism, UST complies with the requirements of the DeFi protocols it uses without losing scalability. |
| Wallet | Tokens can also be easily added to crypto wallets by simply integrating TerraUSD as a payment method. |
| Deep liquidity | Another area where Terra has shown its strength - DApps. For example, platforms that mint flexible synthetic assets and track real asset prices use coins as a price benchmark. |
UST appeared in September 2020 in partnership with Bittrex Global and gained a reputation as the most scalable stablecoin. UST can be used in conjunction with LUNA, Terra’s non-steelcon cryptocurrency, or as a standalone token.
Project uniqueness
TerrаUSD - an algorithmic stablecoin with a value equal to the face value of minted stablecoins. To issue 1 TerraUSD, you need to burn 1 LUNA reserve asset. It turns out that TerraUSD’s monetary policy scales almost without limit, helping DeFi projects to reach their full potential. The stablecoins in the Terra ecosystem share the overall liquidity, which means you can exchange TerraUSD for TerraKRW (their stablecoin, pegged to the Korean won) with minimal fees. To sum up, TerraUSD (UST) - the first decentralized stablecoin that provides percentage returns, incredible scalability and easier cross-chain movement.
Project economics
The value of UST fluctuates because it is driven by the supply and demand for the asset and the USD value. When the value of UST exceeds the dollar, LUNA holders can sell tokens for UST. As a bonus, due to the increase in UST supply, LUNA prices are also rising. When supplies are reduced for profit, UST tokens can be traded for Terra (LUNA). This action returns the UST price to the target level. Consequently, a certain amount of LUNA is burned, which creates scarcity and increases their value. To buy TerraUSD (UST), you need to have Bitcoin or Ether to exchange for UST on the exchanges where the token is available. These exchanges include:
- KuCoin;
- Uniswap (V2);
- Bittrex;
- Bitfinex;
- Gate.io;
- PancakeSwap (V2);
- Sushiswap;
- Terraswap;
- 1inch Exchange;
- MEXC;
- OpenOcean;
- DODO BSC.
As of June 2021, the maximum supply is around 1.93 billion UST, and its scalability and functionality qualities make TerraUSD (UST) one of the most prominent stablecoins in the cryptocurrency market.