United States Dollar

<h2>What is TerraUSD?</h2><p>TerraUSD (UST) is an algorithmic <a target="_blank" rel="noopener noreferrer" href="https://crypto.com/university/what-are-stablecoins">stablecoin</a> created by Terra in September 2020. Terra built TerraUSD with a scalable monetary policy, passive income potential through the Anchor lending protocol, and interoperability with multiple blockchains. The stablecoin’s minting policy makes it possible for <a target="_blank" rel="noopener noreferrer" href="https://crypto.com/university/decentralised-finance-defi-intro/">DeFi (decentralised finance)</a> solutions to adopt it without losing scalability.</p><p></p><h2>A brief history of TerraUSD</h2><p>The Terra blockchain is powered by its native <a rel="noopener noreferrer" href="https://crypto.com/price/terra-luna">LUNA token</a> and the TerraUSD token (UST). TerraUSD was created by South Korea's Terraform Labs co-founders Do Kwon and Daniel Shin and released on Bittrex Global in September 2020. It is a decentralised stablecoin that runs on Ethereum with the aim to solve issues typically related to stablecoins, such as scalability and interoperability. Since its launch, it has quickly gained a reputation for being one of the more reliable and stable cryptocurrencies in the DeFi space. </p><p></p><p>In February 2022, Luna Foundation Guard (LFG),  a non-profit organisation supporting the growth of the Terra ecosystem, announced that it had just completed a private LUNA sale in an effort to maintain the stability of the TerraUSD stablecoin. The sale raised a total of US$1 billion - the largest to ever occur in the crypto space at the time.</p><p></p><h2>How TerraUSD works</h2><p>TerraUSD’s algorithm dictates that the cost of minting is equal to the face value of the stablecoins being minted. In order to mint one TerraUSD, only $1 worth of Terra’s reserve asset LUNA must be burned. This mechanism differentiates TerraUSD from other stablecoins, which are backed by 1:1 US dollar reserves. Terra says that its TerraUSD monetary policy is infinitely scalable — helping DeFi apps and protocols achieve their full potential without restrictions.</p><p></p><h2>What is TerraUSD used for? </h2><p>TerraUSD can be used either in connection with LUNA, Terra’s reserve currency, or as a standalone token. Aside from being used for liquidity in DeFi solutions, TerraUSD can also be used in the Anchor lending protocol with a 20% return on savings.</p><p></p>

TerraClassicUSD

Ethereum

Harmony

Oasis Network

Polygon

Fantom

BNB Smart Chain (BEP20)

Solana

Avalanche C-Chain

Moonbeam

Secret

Aurora

Cosmos

Terra Classic

TerraClassicUSD

USTC

$0.02422 USD