The Ghost of Terra: USTC’s Struggle to Regain $1 Peg

Three years after the implosion of the Terra ecosystem, the algorithmic stablecoin TerraUSDClassic (USTC) remains far from its intended $1 peg, raising questions about the viability of algorithmic stablecoins and the future of the beleaguered project. The project secured funding from prominent crypto exchanges like Binance and Coinbase. However, in May 2022, UST lost its […] source: https://coinedition.com/the-ghost-of-terra-ustcs-struggle-to-regain-1-peg/