From April 14th, we officially list TerraUSD (UST) on the ONUS application. Right after UST is added, users can perform the following features:
- Off-chain transactions: Send and receive UST with other users in the ONUS network.
- Exchange: Swap from VNDC or USDT to UST and vice versa.
What is TerraUSD (UST)?
TerraUSD (UST) is a stablecoin issued by the Terra blockchain to provide value to the Terra ecosystem. Blockchain Terra operates under the Dual Token mechanism with the parallel operation of 02 tokens, TerraUSD (UST) and LUNA. UST is a stablecoin used as a payment currency in the ecosystem; LUNA is the reserved asset whose main role is to ensure that the UST is stable in price.
TerraUSD (UST) belongs to the type of Algorithmic Stablecoins. To create a UST, it is necessary to burn a reserve asset (LUNA) worth 1 US Dollar. With this in mind, TerraUSD is infinitely scalable – helping DeFi applications and protocols reach their full potential without limitations. Achieving scalability is also a strong competitive advantage for UST, as this has always been a challenge faced by other industry-leading stablecoins.
Specifications
- Name: TerraUSD
- Ticker: UST
- Platform: Terra
- Token type: Stablecoin
- Total Supply: Flexible
About Terra
Terra is a blockchain project that uses the Proof of Stake consensus mechanism to provide a price stabilization solution to the e-commerce industry. Terra’s goal in creating Stablecoins is to take advantage of Cryptocurrency instead of other currencies with Fiat to apply payment activities and daily consumption.
Terra’s most notable distinction is creating stablecoins equivalent to Fiat value, which can be used to pay for goods and services on some e-commerce platforms in place of fiat money.
