History Crypto - TerraClassicUSD (USTC) #040

NFT 040: History of TerraClassicUSD (USTC) Year of creation: 2020 Creators: Do Kwon and Daniel Shin Maximum supply: Unlimited (formerly algorithmic stablecoin) Blockchain: Terra Brief history and utility: TerraClassicUSD (USTC) was once an algorithmic stablecoin in the Terra ecosystem, designed to maintain a 1:1 peg with the US dollar. After the collapse of its stablecoin mechanism in 2022, USTC lost its peg and is now a legacy token, mostly used for speculation.