May 15 2022

[Updated] Terra (UST and LUNA) Guide: Is Terra Legit and How Does It Work?

published by Alex Moskov
in blog CoinCentral
original entry[Updated] Terra (UST and LUNA) Guide: Is Terra Legit and How Does It Work?

anchor protocol guides luna mirror protocol terra ust

Terra is a blockchain-based ecosystem with a native algorithmic stablecoin (UST) designed for real-world adoption and a native token (LUNA) used to stabilize UST's dollar peg; in May 2022, UST and LUNA crashed in price due to UST losing its dollar peg. Prior to Terra losing its dollar peg, UST was the third-largest stablecoin by marketcap. UST was controversial in that its...