Rebranded from TerraUSD (UST), TerraClassicUSD (USTC) is a decentralized algorithmic stablecoin on the Terra Classic blockchain. After the depeg of USTC in May 2022, the Terra community decided to create a new blockchain without the algorithmic stablecoins called Terra 2.0. The original blockchain is renamed as Terra Classic.
USTC is designed to be pegged to 1 USD, and in order to mint 1 USTC, 1 USD worth of the reserve asset, LUNC, must be burned. USTC's stability mechanism depends on arbitrage activities by users. For instance, when the price of USTC falls to $0.95 in secondary markets, users can purchase 100 USTC with $95 on exchanges, and redeem these tokens on the Terra platform for LUNC tokens worth $100. If the price of 1 USTC goes above $1, users can purchase USTC on the Terra platform and sell on exchanges for a profit.
As at May 31st, 2022, the total and circulating token supply of USTC is 10,269,448,617.
Cet article n’est actuellement pas disponible dans votre langue. L’utilisation d’un outil de traduction automatique est recommandée pour l’anglais.