TerraClassicUSD
TerraClassicUSD (formerly UST) was an algorithmic stablecoin on the Terra blockchain, designed to maintain a 1:1 peg through LUNA mint-and-burn mechanics. In May 2022, UST lost its peg catastrophically, triggering one of the largest collapses in crypto history and wiping out billions in value. The event highlighted the risks of undercollateralized, algorithmic stablecoins. USTC now serves as a legacy token with limited utility.
| TerraClassicUSD | |
|---|---|
| Symbol | USTC |
| Type | Algorithmic-backed |
| Collateralization Method | Algorithmic via LUNC |
| Pegged To | USD (Former) |
| Issuer | Terra (Decentralized) |
| Blockchain Support | Terra Classic |
| Market Cap Rank | 10 |
| Reserve Transparency | Low (Limited after crash) |
| Stability History | Historically Volatile |
| Primary Use Cases | Trading speculation (after depeg) |
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