What is UST and how does it work in the crypto industry?

1 answers

• Andi YahyaJun 23, 2023 · 2 years ago
  UST, or TerraUSD, is a stablecoin that is widely used in the crypto industry. It is backed by a basket of collateral assets and is designed to provide stability and liquidity. UST can be used for various purposes, including trading, lending, and payments. It offers a reliable and efficient way to transact in the crypto space without being exposed to the volatility of other cryptocurrencies. UST is created through a process called minting, where users deposit collateral assets into the Terra protocol and receive UST in return. The supply of UST is algorithmically adjusted to ensure that it remains pegged to the U.S. dollar. Overall, UST plays a crucial role in enabling seamless and stable transactions in the crypto industry.
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