TerraUSD (UST) is the decentralized and algorithmic stablecoin of the Terra blockchain. It is defined as a scalable and profitable cryptocurrency whose value is pegged to the US dollar.
What is TerraUSD (UST)?
TerraUSD was created to provide value to the Terra community and provide a scalable solution for DeFi amid the serious scalability issues faced by other stablecoin leaders like Dai. Thus, TerraUSD promises users higher scalability, interest rate accuracy, and cross-chain usage.
TerraUSD provides several advantages that make it stand out and a stablecoin competitor. Thanks to the mint mechanism, UST meets the requirements of the DeFi protocols it uses without losing scalability. UST can also be easily added to crypto wallets by integrating TerraUSD as a payment method. Another area where TerraUSD shows its strength is DApps. For example, platforms that print exchangeable synthetic assets and monitor real-life asset prices use UST as a pricing benchmark.
TerraUSD (UST) was launched in September 2020 (in collaboration with Bittrex Global) and has since gained a reputation as the most scalable stablecoin. UST can be used alongside Terra’s cryptocurrency LUNA or as a standalone token.
According to the statements made, UST offers its users the following 4 basic features:
Enhanced Scalability: TerraUSD is an algorithmic stablecoin with a value equal to the par value of minted stablecoins. To print 1 TerraUSD, you need to burn 1 LUNA reserve asset. It turns out that TerraUSD’s monetary policy scales almost unlimitedly, thus helping DeFi projects reach their full potential.
Easy Exchange: The stablecoins in the Terra ecosystem share the total liquidity, meaning you can exchange TerraUSD with TerraKRW with minimal fees.
Passive Income Potential: Users can earn passive income using TerraUSD with fixed interest rates of Anchor protocol. Anchor is a lending protocol that promises 20% returns on UST savings. Additional and stable income arises through commissions and rewards in PoS chains that remain stable due to inflation.
Interoperability: With the Dropship bridge protocol, TerraUSD allows blockchain ecosystems to be connected. Dropship integrates TerraUSD into numerous DeFi and DEX platforms and most importantly moves assets between chains. LUNA supply and demand determine the value of TerraUSD. Therefore, a stable UST cost is guaranteed as the Dropship protocol helps maintain scalability.
UST Coin Review
Stablecoins have long been one of the most important components of the cryptocurrency market. Therefore, investors also use stablecoins for both investment and trading on exchanges.
Since the prices of stablecoins are fixed, there are peaks or troughs, such as the highest or lowest price levels. In addition, it can be stated that UST currently has a market value of $ 9,977,448,034 and ranks 2nd in the ranking.
How to Buy TerraUSD Coin?
UST Coin can be purchased quickly and securely via Binance, the world’s largest cryptocurrency trading platform in terms of trading volume.
In order to buy UST Coin, you must first be a member of Binance and then send fiat money. After sending a fiat currency such as Turkish Lira or dollars, purchases can be made in the UST trading pair by receiving Bitcoin (BTC), BUSD and Tether (USDT), where UST Coin is traded.
In addition, by placing a purchase order at Binance, not only at the market value, but also at a lower value, users can make purchases at the price they want. For this, it will be sufficient to use the Limit tab and enter the amount you want to buy and the price you want to buy.