USTC
TerraUSD (UST) is the decentralized and algorithmic stablecoin of the Terra blockchain, pegged to the US Dollar. Launched in September 2020, UST was created to offer a scalable solution for DeFi, addressing scalability issues faced by other stablecoins. It promises higher scalability, interest rate accuracy, and interchain usage. UST's minting mechanism meets the requirements of DeFi protocols without losing scalability and can be easily integrated into crypto wallets as a payment method. It's also used in DApps as a pricing benchmark for minting fungible synthetic assets. UST can be used with Terra's non-stablecoin crypto, LUNA, or as a standalone token, and has gained a reputation as a highly scalable stablecoin, making it a competitive player in the stablecoin market.
Terra Classic (LUNC) Community Approves Landmark Proposal to Burn 800 Million USTC
The Terra Classic community has voted in favor of a proposal to burn 800 million USTC through contract migration, marking a pivotal governance decision.
Binance Accelerates LUNC Burn, Fuels Market Optimism with Over 49 Billion Tokens Burned
Binance's recent burning of 5.57 billion Terra Luna Classic tokens has significantly reduced LUNC supply, leading to a 7% increase in LUNC and USTC prices.
Singapore police allegedly investigate Hodlnaut
Singaporean crypto lender Hodlnaut is reportedly under investigation for cheating and fraud. Multiple complaints against the platform between August and November 2022 prompted the police to investigate the exchange's founders. Singapore police say most complaints involve misrepresentations.
JustCarbon DAO Announces Multi-Exchange Platform Partnership
Carbon action marketplace JustCarbon has announced a multi-exchange platform partnership with DigiFinex, Coinsbit, LAToken and Coinstore signifying a play for dominance in the carbon market.