TerraUSD (UST) is the decentralized and algorithmic stablecoin of the Terra blockchain. It is a scalable, yield-bearing coin that is value-pegged to the US Dollar. TerraUSD was created to deliver value to the Terra community and offer a scalable solution for DeFi amid severe scalability problems faced by other stablecoin leaders like Dai. Thus, TerraUSD promises users a higher level of scalability, interest rate accuracy, and interchain usage.
TerraUSD provides several benefits that have made it a stand-out stablecoin competitor. Due to its minting mechanism, UST meets the requirements of DeFi protocols that it uses without losing scalability. UST can also be easily added to crypto wallets by simply integrating TerraUSD as a payment method. Another area where TerraUSD has shown its power is DApps. For example, platforms that mint fungible synthetic assets and track real-life asset prices use UST as a pricing benchmark.
TerraUSD (UST) was launched in September 2020 (in collaboration with Bittrex Global) and has since gained the reputation as the most scalable stablecoin. UST can be used in conjunction with LUNA, Terra's non-stablecoin crypto, or as a standalone token.
Do Kwon and Daniel Shin founded Terra (LUNA) in April 2019. In September 2020, they launched TerraUSD on Bittrex Global. Since that date, TerraUSD has outstripped many stablecoin competitors in the market, such as GUSD (Gemini) and PAX (Paxos). Terra is TerraUSD's own blockchain, the creation of Terraform Labs (a subsidiary of Terra Alliance).
Do Kwon is the CEO of Terraform Labs. He is a former software engineer at Microsoft and Apple. He also served as CEO of Anyfi, a startup providing decentralized solutions for wireless mesh networks. Kwon is included in the Forbes 30 Under 30 list of the world's most successful entrepreneurs.
Co-founder Daniel Shin is a talented economist and entrepreneur. Before Terra Alliance, he co-founded Fast Track Asia, a startup incubator, and managed to co-found and lead TMON (Ticket Monster), a South Korean e-commerce platform.
To summarize, TerraUSD (UST) is the first decentralized stablecoin that provides interest earnings, incredible scalability, and easier interchain movement.
TerraUSD (UST) is a stablecoin built on the Terra blockchain. The UST token has no technical support. Instead, the creation of the UST is facilitated by burning LUNA tokens. The UST value fluctuates because it’s driven by supply and demand for the asset and the US dollar value. When the value of the UST exceeds a dollar, LUNA holders can sell tokens for UST. As a bonus, due to the increase in the UST supply, the prices for LUNA are also growing. When supplies are reduced for profit, UST tokens can be sold 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.
As of June 2021, the maximum supply is about 1.93B UST, and its qualities of scalability and functionality make TerraUSD (UST) one of the most notable stablecoins in the cryptocurrency market.
TerraUSD (UST) is pegged to the price of a dollar and is secured by Terra (LUNA). LUNA is an asset reserve that ensures the stability and security of the UST through the seigniorage process (income received from an emission of money).
Miners also play a significant role in Terra's security. Miners participate in a proof-of-stake (PoS) consensus, providing stability by absorbing short-term demand volatility for Terra. After all, stable demand for mining is one of the main requirements for security and stability. Therefore, the TerraUSD protocol strives to provide stable rewards in all economic conditions. This way, TerraUSD can provide compensation to those who protect and build the network.
To buy TerraUSD (UST), you need to have Bitcoin or Ether to swap for UST on the exchanges where the token is listed. These exchanges include KuCoin, Uniswap (V2), Bittrex, Bitfinex, Gate.io, PancakeSwap (V2), Sushiswap, Terraswap, 1inch Exchange, MEXC, OpenOcean, DODO BSC.
* Forex Rating accepts no liability for any errors in the TerraUSD Price or UST Information. For the most recent information please visit the TerraUSD official site.
| # | Cryptocurrency | 7 days | |
| 1 |  |
Bitcoin | -12.5% |
|---|---|---|---|
| 2 |  |
Ethereum | -15.31% |
| 3 |  |
Tether USDt | 0.03% |
| 4 |  |
BNB | -13.12% |
| 5 |  |
Solana | -20.88% |
| 6 |  |
USDC | 0.01% |
| 7 |  |
XRP | -20.1% |
| 8 |  |
Toncoin | -7.15% |
| 9 |  |
Dogecoin | -25.49% |
| 10 |  |
Cardano | -24.64% |
| 11 |  |
Shiba Inu | -20.69% |
| 12 |  |
Avalanche | -27.79% |
| 13 |  |
Lido stETH | -3.32% |
| 14 |  |
Wrapped Bitcoin | -9.12% |
| 15 |  |
Wrapped TRON | -11.66% |
| 16 |  |
TRON | -12.01% |
| 17 |  |
Polkadot | -22.73% |
| 18 |  |
Bitcoin Cash | -23.83% |
| 19 |  |
Chainlink | -22.29% |
| 20 |  |
Polygon | -23.72% |
| # | Broker | Cryptos | |
| 1 |  |
HFM | |
|---|---|---|---|
| 2 |  |
Octa | |
| 3 |  |
FXCC | |
| 4 |  |
FxPro | |
| 5 |  |
Vantage | |
| 6 |  |
MultiBank Group | |
| 7 |  |
Errante | |
| 8 |  |
Efixxen | |
| 9 |  |
Exness | |
| 10 |  |
Just2Trade | |
| 11 |  |
FXTM | |
| 12 |  |
Dukascopy | |
| 13 |  |
easyMarkets | |
| 14 |  |
eToro | |
| 15 |  |
Forex4you |
Buying on dips remains the dominant tactic in the crypto market. Capitalisation rose 1.8% in seven days to $1.65 trillion. Previously, the 'what doesn't rise, falls' formula was often applied to cryptocurrencies, however, recent attempts to sell off after a period of stabilisation have been met with increased buying.
5 Feb 2024
Crypto market capitalization at around $1.62 trillion is less than 1% higher than it was seven days ago, thanks to a growth spurt on Friday. Bitcoin has added 3% in the same period and continues to be the driving force behind crypto volatility.
29 Jan 2024
Volatility in the cryptocurrency market remains subdued, keeping the capitalisation near $1.56 trillion for the third day. Meanwhile, Bitcoin remains around $40K, and Ethereum looks pegged to $2200...
26 Jan 2024
The crypto market saw lower volatility in the last 24 hours, with capitalisation at $1.56 trillion and the price of Bitcoin hovering around $40K. Major altcoins have also avoided strong moves...
25 Jan 2024
Bitcoin reversed to the upside on Tuesday afternoon. The price drop to $38.5K attracted buyers on the background of another update of all-time highs by leading US indices, which supported risk appetite...
24 Jan 2024
The crypto market lost over 5% in 24 hours, to $1.52 trillion. Bitcoin has remained under pressure since the start of the week after pausing in the sell-off on Saturday and Sunday...
23 Jan 2024
© 2006-2024 Forex-Ratings.com
The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.
