LUNC News: Terra's New Proposal Aims To Bring UST Back To $1
UST Proposal Aims For $1 Repeg Almost a year after Terra’s gruesome debacle, members of the Terra Classic community are considering resurrecting the ecosystem’s doomed terraUSD classic (USTC) stablecoin. The failed chain got renamed to Terra Classic whereas the forked version — developed in the aftermath of UST’s de-pegging event — converted into Terra 2.0. advertisement Read More: Crypto Exchanges Lined Up For Shiba Inu’s BONE Listing After OKX, Huobi Discussions on community forums that date back to March are proposing a new model that addresses the problems with the initial design by utilizing staking, algorithmic peg divergence fees, token buybacks and unidirectional swaps. A divergence fee mechanism, as detailed by member “RedlineDrifter,” would levy a cost equal to the disparity in price between the peg and the market price of USTC. This fee may vary from 0% to 100% at a 50% deviation from the peg. User...