The Terra Classic (LUNC) community has approved the halt of token issuance for the Terra Classic USD (USTC) to regain dollar peg.
With the crisis it experienced last year, the cryptocurrency market billions of dollars causing deletion From Terra Classic (LUNC) News of an important development has arrived. with the events fixed at $1 A must have but the price is almost zero algorithmic stablecoin There will no longer be new production of the Terra Classic USD (USTC).
The Terra Classic community voted to halt all minting activities of the stablecoin in order to create a balance between USTC and the dollar. The community, in the proposal in question 59% at a rate USTC When asking for printing to be stopped, approximately 40%with a ratio of vote of disapproval passed.
The following statements were included in the description of the proposal:
This proposal will halt all printing of USTC without approval from the Terra Classic community. We are making payments to the Algo Quant team to peg USTC back to the dollar. Most importantly, this offer paves the way for exchanges such as Binance to burn USTC once the printing process is over.
Included in the proposal Binance’s comments regarding the said investments If it starts, it is thought that an important step will be taken towards USTC’s dollar peg.
USTC style algorithmic stablecoins, Bitcoin (BTC) and cryptocurrencies It is supported by . With the USTC collapse, similar stablecoins were damaged and bankruptcies occurred one after another in the ecosystem.
According to CoinGecko data, there should be a dollar peg USTC, in the last 24 hour period 2.4% with decline 0.01252 dollarIt is traded from.