Market Cap
$256,962,840.49
Volume (24 H)
$12,507,579.85
UST with marketcap of BTC
$47.0324
TerraUSD / U.S. Dollar Tweet Timeline of UltraXBT

UST Sentiment Score of UltraXBT

Tweets

About TerraUSD

What Is TerraUSD (UST)?

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.

Optional video embed from Terra: https://www.youtube.com/watch?v=KqpGMoYZMhY

Who Are the Founders of TerraUSD?

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.

What Makes TerraUSD (UST) Unique?

Enhanced Scalability - TerraUSD is 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 nearly without limits, thereby helping DeFi projects reach their full potential. Easy Exchange - The stablecoins in the Terra ecosystem share the total liquidity, meaning you can exchange TerraUSD for TerraKRW (their stablecoin pegged to the Korean Won) with minimal fees. Passive Income Potential - Additionally, users can gain passive income using TerraUSD with the Anchor protocol's stable interest rates. Anchor is a lending protocol that promises a 20% return on UST savings. Additional and steady income appears through rewards in PoS chains, which maintain their stability due to commissions and inflation. This nuance will make it possible to form a reliable interest rate. Interoperability - With the Dropship bridge protocol, TerraUSD allows blockchain ecosystems to be connected. Dropship integrates TerraUSD into numerous DeFi and DEX platforms, and most importantly, moves assets between chains. LUNA supply and demand determine the value of TerraUSD. Thus, a stable UST cost is guaranteed as the Dropship protocol helps maintain scalability.

To summarize, TerraUSD (UST) is the first decentralized stablecoin that provides interest earnings, incredible scalability, and easier interchain movement.

Related Pages:

Read about Terra (LUNA).

Read about Tether (USDT) and Dai (DAI) - other popular stablecoins (stable-value cryptocurrency) that mirror the price of the U.S. dollar.

What is a stablecoin? Check an in-depth guide on CMC Alexandria.

What are DApps? Learn more with CoinMarketCap's educational resource.

Click here and see the top DeFi tokens by Market Capitalization.

How Many TerraUSD (UST) Coins Are There in Circulation?

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.

How Is the TerraUSD Network Secured?

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.

Where Can You Buy TerraUSD (UST)?

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.

Want to buy some crypto? Use CoinMarketCap’s guide.

Learn more about the crypto space on the CMC blog.

Latest News On TerraUSD

Do Kwon goes public in his first interview since Terra's $45 billion collapse - Finbold - Finance in Bold

Do Kwon goes public in his first interview since Terra's $45 billion collapse Finbold - Finance in BoldTerraform Founder Do Kwon Says He Hasn’t Communicated With Korean Authorities BloombergTerra founder Do Kwon pushes back against accusations of operating a Ponzi scheme Kitco NEWSDo Kwon Breaks His Silence, Says He Lost His Big Bet on Terra (LUNA) and UST Times TabloidTerra crash: founder Do Kwon gives first detailed interview Crypto News FlashView Full Coverage on Google News

Mon, 15 Aug 2022 10:25:04 GMT

Bitcoin Waiting For Bears To Come Out Of The Bushes As Stablecoin Loses Stability - The Coin Republic

Bitcoin Waiting For Bears To Come Out Of The Bushes As Stablecoin Loses Stability The Coin Republic

Mon, 15 Aug 2022 16:30:00 GMT

BitGo Threatens Lawsuit As Galaxy Digital Ends $1.2B Merger - Law360

BitGo Threatens Lawsuit As Galaxy Digital Ends $1.2B Merger Law360

Tue, 16 Aug 2022 00:46:00 GMT

Ether surges to a two-month high after ethereum inches closer to long-awaited upgrade - CNBC

Ether surges to a two-month high after ethereum inches closer to long-awaited upgrade CNBC

Thu, 11 Aug 2022 12:36:11 GMT

These Gen Z crypto investors lost as much as 6 figures in the crypto crash, but they’re doubling down on their investment - Fortune

These Gen Z crypto investors lost as much as 6 figures in the crypto crash, but they’re doubling down on their investment Fortune

Sun, 14 Aug 2022 11:00:00 GMT

Crypto Giant Galaxy Digital Ditches Billion Dollar BitGo Buyout As Losses Tripled And Terms Weren't Met - Benzinga

Crypto Giant Galaxy Digital Ditches Billion Dollar BitGo Buyout As Losses Tripled And Terms Weren't Met Benzinga

Mon, 15 Aug 2022 15:18:58 GMT

Crypto lender Hodlnaut suspends withdrawals - The Washington Post

Crypto lender Hodlnaut suspends withdrawals The Washington Post

Wed, 10 Aug 2022 01:11:00 GMT

A Massive $10 Trillion Crypto Game-Changer Is Closer Than You Think—Suddenly Boosting The Price Of Bitcoin, Ethereum, BNB, XRP, Solana, Cardano And Dogecoin - Forbes

A Massive $10 Trillion Crypto Game-Changer Is Closer Than You Think—Suddenly Boosting The Price Of Bitcoin, Ethereum, BNB, XRP, Solana, Cardano And Dogecoin Forbes

Sun, 14 Aug 2022 11:15:28 GMT

Singapore Court Grants Zipmex Three-Month Creditor Protection - Bloomberg

Singapore Court Grants Zipmex Three-Month Creditor Protection Bloomberg

Mon, 15 Aug 2022 04:40:00 GMT

Stablecoins: How Their Formation Ties in with Cryptocurrencies - hackernoon.com

Stablecoins: How Their Formation Ties in with Cryptocurrencies hackernoon.com

Sun, 14 Aug 2022 17:09:20 GMT
-2.6%
Average Weekly ROI
-9.7%
Average Monthly ROI