TerraClassicUSD Price Chart Update [USTC]

The USTC price update as of now is $0.02190. In the previous 24 hours, its trading volume was $62,878,750, and its value has increased by 5.21%. As of now, USTC's live market cap is $214,734,399, and it is ranked as the #244 on the Coincu. USTC has a circulating supply of 9,806,355,634 and a maximum supply of 9,806,355,634.

Introduction to TerraUSD (UST)

TerraUSD (UST) is a stablecoin that operates on the Terra blockchain, providing a decentralized and algorithmic solution. Its value is pegged to the US Dollar, addressing scalability issues faced by other stablecoins like Dai and offering higher scalability and accurate interest rates in the DeFi space. Additionally, TerraUSD serves as a pricing benchmark for platforms that mint synthetic assets and track real-life asset prices. Launched in September 2020, TerraUSD has gained recognition as the most scalable stablecoin, offering versatility as a standalone token or in conjunction with LUNA.

The Relationship between UST and LUNA

Following the UST depeg, a revival plan emerged to split the Terra blockchain into two chains: Terra (also known as Terra 2.0) and Terra Classic. The community approved this plan through a vote, resulting in most DeFi DApps migrating to the new Terra 2.0 chain. The old chain, Terra Classic, now hosts the trading of TerraClassicUSD (USTC), the defunct version of UST. Since there will be no migration of USTC to Terra 2.0, it is not expected to regain its dollar peg in the future.

Founders of TerraUSD

Terra (LUNA) was founded by Do Kwon and Daniel Shin in April 2019, with TerraUSD launching on Bittrex Global in September 2020. Do Kwon, the CEO of Terraform Labs, is a recognized entrepreneur and former software engineer at Microsoft and Apple. Co-founder Daniel Shin brings his expertise as an economist and entrepreneur, having co-founded Fast Track Asia and led TMON (Ticket Monster). TerraUSD's blockchain, Terra, was created by Terraform Labs, a subsidiary of Terra Alliance.

Unique Features of TerraUSD (UST)

• Enhanced Scalability: With its monetary policy allowing for limitless scalability, TerraUSD is ideal for DeFi projects.
• Easy Exchange: Liquidity is shared among stablecoins in the Terra ecosystem, enabling seamless exchange between TerraUSD and TerraKRW with minimal fees.
• Passive Income Potential: Users can earn passive income through the Anchor protocol's stable interest rates, offering a 20% return on UST savings. Additionally, rewards can be obtained through PoS chains.
• Interoperability: TerraUSD's Dropship bridge protocol facilitates integration into various DeFi and DEX platforms, enabling asset movement between chains.

In conclusion, TerraUSD (UST) is a decentralized stablecoin that provides enhanced scalability, interest earnings, and easy interchain movement.

Topping Up the Anchor Protocol Yield Reserve

The Anchor Protocol serves as a decentralized savings protocol, offering low-volatile yields on TerraUSD deposits. Its yield is derived from staking rewards and borrower interest. To maintain high benchmark returns, a top-up of $450 million was announced by Do Kwon, the founder of Terra, for the Anchor yield reserve. This has increased the reserve to over $500 million, providing stability for the protocol.

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