₹2.024
₹2.024
Market Cap
₹11.34 B 4.9027%
Circulating Supply
5830400000
Max Supply
--
Volume
₹3.79 B
All Time High :
₹80.27
All Time Low :
₹0.4693
Price change in 24H :
₹-0.097922
24H High :
₹2.04
24H Low :
₹1.81
Official Links
Network information
Market Sentiment
Net Inflow ($)
Net Inflow ($)
Net Inflow ($)
TerraUSD (UST) stands out as the decentralized and algorithmic stablecoin native to the Terra blockchain, providing a scalable and yield-bearing solution pegged to the US Dollar. Its creation addressed scalability challenges faced by other stablecoins like Dai, offering the Terra community enhanced scalability, precise interest rates, and versatile interchain utility.
TerraUSD's unique minting mechanism ensures compatibility with DeFi protocols without compromising scalability, setting it apart as a reliable stablecoin. The integration of UST into cryptocurrency wallets is seamless, making it easily accessible as a payment method. The versatility of TerraUSD extends to decentralized applications (DApps), where it serves as a pricing benchmark for platforms dealing with fungible synthetic assets and real-life asset price tracking.
Launched in September 2020 through a collaboration with Bittrex Global, TerraUSD (UST) has rapidly gained acclaim as the most scalable stablecoin. Its utility extends both in conjunction with LUNA, Terra's non-stablecoin cryptocurrency and as a standalone token, offering users a reliable and efficient stablecoin option within the dynamic landscape of decentralized finance (DeFi).
Founded in April 2019 by Do Kwon and Daniel Shin, Terra (LUNA) witnessed a significant milestone with the launch of TerraUSD on Bittrex Global in September 2020. Outpacing competitors like GUSD (Gemini) and PAX (Paxos), TerraUSD operates on its own blockchain, a creation of Terraform Labs, a subsidiary of the Terra Alliance.
Do Kwon, currently serving as the CEO of Terraform Labs, boasts a rich background as a former software engineer at tech giants Microsoft and Apple. Prior to Terra, he led Anyfi, a startup focusing on decentralized solutions for wireless mesh networks. Kwon's entrepreneurial prowess has earned him a place in Forbes' 30 Under 30 list, recognizing the world's most successful individuals.
Co-founder Daniel Shin, an accomplished economist and entrepreneur, has played a pivotal role in Terra's journey. Before his involvement with Terra Alliance, Shin co-founded Fast Track Asia, a startup incubator. Additionally, he successfully co-founded and led TMON (Ticket Monster), a prominent South Korean e-commerce platform. Together, Kwon and Shin have spearheaded Terra's innovative initiatives, contributing to its growth and prominence in the competitive stablecoin landscape.
TerraUSD (UST) stands out as an algorithmic stablecoin on the Terra blockchain, offering enhanced scalability by maintaining a value equivalent to the face value of minted stablecoins. Issuing 1 TerraUSD requires burning 1 LUNA reserve asset, allowing for almost limitless scalability to support the full potential of DeFi projects.
The Terra ecosystem fosters easy exchange, as stablecoins within it share total liquidity. Users can seamlessly exchange TerraUSD for TerraKRW (pegged to the Korean Won) with minimal fees, enhancing accessibility.
Furthermore, TerraUSD presents passive income opportunities through the Anchor protocol, offering stable interest rates and a promising 20% return on UST savings. Users can also earn consistent income through rewards in PoS chains, bolstered by stability through commissions and inflation, ensuring a reliable interest rate.
Interoperability is a key strength, with TerraUSD utilizing the Dropship bridge protocol to connect blockchain ecosystems. Dropship seamlessly integrates TerraUSD into various DeFi and DEX platforms, facilitating asset movement between chains. The value of TerraUSD is determined by LUNA supply and demand, with the Dropship protocol ensuring scalability and maintaining a stable UST cost.
In summary, TerraUSD (UST) emerged as the pioneering decentralized stablecoin, offering interest earnings, exceptional scalability, and simplified interchain movement.
TerraUSD (UST) maintains a price peg to the US dollar and relies on the security provided by Terra (LUNA). LUNA serves as an asset reserve, ensuring the stability and security of UST through the seigniorage process, where income is derived from the issuance of money.
The security of Terra is further reinforced by miners who actively participate in a proof-of-stake (PoS) consensus mechanism. Miners contribute to stability by absorbing short-term demand volatility for Terra, a crucial element for both security and stability. The TerraUSD protocol is designed to offer stable rewards under varying economic conditions, emphasizing the commitment to provide compensation to those who contribute to the protection and development of the network. This strategic approach aims to fortify TerraUSD against potential threats, reinforcing its reliability and resilience.
To read more information about TerraUSD (UST), visit Suncrypto Price Explorer
TerraClassicUSD news
Stablecoin Terra USD Announces Recovery Plan Following Sharp Dives.
Terra USD was the tenth-largest cryptocurrency with a market cap of over $18.5 billion. With a market cap of approximately $8.6 billion, it is now the twelfth-largest cryptocurrency and has lost more than half of that value. Unlike most other major stablecoins supported by different resources, Terra USD's worth is inferred by complex algorithmic cycles, connected to one more matched token called Luna, which is free-drifting.
Terra LUNA and Terra UST Dispute Why They Were Delisted?
Luna trading pairs have been suspended by the world's leading exchange in May. Investors continue to incur significant losses as a result of an increase in the supply of Luna. The exchange has removed Luna trading pairs from its list because of their high volatility. SunCrypto has also stopped trading the LUNA/INR pair, and the liquidity provider exchange has stopped trading Luna as well. As a result, we are having trouble getting access to the Luna-provided pair's liquidity. Thus, Sun Crypto has briefly suspended the LUNA/INR exchanging pair.