Top Decentralized Stablecoin Alternatives to USTC (Formerly UST)

Top Decentralized Stablecoin Alternatives to USTC (Formerly UST)

The recent cataclysmic crash of the Terra Classic (LUNC; formerly LUNA) left several people bankrupt. South Korean officials reported 8 confirmed suicides due to this blow. Stablecoins emerged as a way for cryptocurrency investors to park their funds to escape from volatility. USTC (formerly UST) was among the largest stablecoins by market cap and the single largest stablecoin on the Cosmos blockchain. This is not the first time an algorithmic stablecoin fell below the point of recovery. So much so that the head of the IMF even suggested that stablecoins that are not backed by physical....


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Double bubble? Terra's defunct 'unstablecoin' suddenly climbs 800% in one week

The USTC price rally does not mean it would reclaim its lost U.S. dollar peg in the future. Terra's $40-billion experiment to create a functional "algorithmic stablecoin" project has failed drastically following its collapse in May. Nonetheless, its native stablecoin TerraClassicUSD (USTC), earlier called TerraUSD (UST), has been thriving in the past week.Dead stablecoin walkingTo recap, UST lost its U.S. dollar peg in May following mass withdrawals from Anchor Protocol, a lending and borrowing platform offering up to 20% yield to clients on their UST deposits. As of June 15, the token was....

DAI Takes the Reigns as the Leading Decentralized Stablecoin by Market Capita...

Following the demise of the Terra-based stablecoin UST, the fiat-pegged token DAI has become the largest decentralized stablecoin in existence today. Moreover, Makerdao has regained the decentralized finance (defi) protocol’s position as the top defi protocol in terms of total value locked (TVL). Makerdao’s DAI Regains the Top Decentralized Stablecoin Position This month, it’s quite clear that the Terra LUNA and UST fallout has rippled across defi and the crypto ecosystem in general. Furthermore, the Terra implosion has allowed the stablecoin DAI to regain its position....

Stablecoin Flippening: UST Becomes the Biggest Decentralized Stablecoin By Ma...

UST, one of the stablecoins of the Terra project, has become the largest stablecoin by market capitalization today, after having surpassed its Ethereum-based rival, DAI. UST is now the largest decentralized stablecoin in the market, closing a year of growth for the Terra ecosystem, which is now among the most valuable top ten cryptocurrency projects in the market. UST Flips DAI As The Most Valuable Decentralized Stablecoin UST, one of the stablecoins derived from the Terra project, has become the most valuable project of its kind by market cap, taking the spot that DAI, another....

Crypto regulation concerns make decentralized stablecoins attractive to DeFi ...

The threat of stablecoin regulation and USDT and USDC centralization are making decentralized stablecoins like MIM, FRAX and UST attractive to DeFi investors. Stablecoins have emerged as a foundational part of the cryptocurrency ecosystem over the past couple of years due to their ability to provide crypto traders with an offramp during times of volatility and their widespread integration with decentralized finance (DeFi). These are necessary for the health of the ecosystem as a whole. Currently, Tether (USDT) and USD Coin (USDC) are the dominant stablecoins in the market, but their....

Binance Staking completes initial phase of Terra 2.0 airdrop as ecosystem iss...

About 70% of tokens are held in escrow and will be vested starting later this year. On Tuesday, cryptocurrency exchange Binance said it completed the first stage of airdropping new Terra Luna (LUNA) tokens to holders of Terra Luna Classic (LUNC), TerraUSD (USTC) and AnchorUST (aUST). The distribution was based on "pre-attack" and "post-attack" snapshots of token holders taken at LUNC block height 7,544,910 at 14:59:37 on May 7, 2022 UTC and block height 7,790,000 at 16:38:08 on Thursday, respectively. As told by Binance, users received new LUNA tokens based on the compensation scheme....