In one of the most catastrophic events to ever hit the crypto industry, the prominent algorithmic stablecoin TerraClassicUSD (USTC) – formerly UST – became depegged from the US dollar around a year ago. As a result, the Terra ecosystem crumbled, leading to uncontrolled minting and supply of Terra Classic (LUNC) tokens. However, in the latest developments, the Terra community is looking to approve a proposal to revive the ecosystem and restore USTC’s value peg with the US dollar. USTC Re-Peg Proposal On Saturday, 22nd April, a Terra community member known as RedlineDrifter submitted a proposal that aims to re-peg stable
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Author: coinmaker