TERRA USD History / Information / Buying / Staking
TERRA USD HISTORY
TerraUSD (UST) was launched in September 2020 (in collaboration with Bittrex Global) and has since gained the reputation as the most scalable stablecoin. UST can be used in conjunction with LUNA, Terra's non-stablecoin crypto, or as a standalone token.
HOW TERRA USD WORKS
TerraUSD is a decentralized stablecoin running on Ethereum that attempts to maintain a value of US$1.00. Unlike centralized stablecoins, UST isn't backed by US dollars in a bank account. Instead, in order to mint 1 TerraUSD, US$1.00 worth of TerraUSD's reserve asset (LUNA) must be burned.
BENEFITS OF USING TERRA USD
Some of the benefits of using Terra USD are:
Terra USD offers various innovations that other stablecoins do not have
The association with Terra and LUNA further provides TerraUSD with credibility
CAN YOU STAKE TERRA USD
You can stake Terra USD on some of the bigger exchanges including Binance 19.3% APR for 90 days.
COINS SIMILAR TO TERRA USD
Direct competition to Terra USD which are considered similar coins are: