Venus1100
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Algorithmic stablecoins have been negatively impacted after the collapse of the Terra Luna ecosystem. According to a USTC re-peg proposal published on Medium by blockchain developer Tobias Andersen on October 9 Terra can use quantitative tightening (QT) to recapitalize the stablecoin. Andersen also thinks that USTC is a valuable resource for the Terra community and might be repriced to its $1 par value.
USTC Price (Week) from MEXC Global
In the seven days following the release of this plan, the price of USTC has increased by 80%. Since the news on Sunday, it has been trending upward. USTC is currently trading at $0.056, which represents a 30% increase over the previous day. The suggestion also notes the necessity for the Terra community to create a more durable market maker mechanism in order to encourage more companies to perform admirable deeds on the network.
Despite the fact that several nations, like Japan, use quantitative easing (QE) to support their economies, QE has limited potential and high dangers for re-pegging USTC. Andersen thinks QT will be a better long-lasting mechanism for stablecoin recapitalization in the form of burning taxes. Because of this, MEXC Global has supported Luna's burning system and thinks the Terra community is robust and dynamic, so we may work together to repair the environment. Support Luna Classic and Terra's stablecoin on MEXC Global today with minimal trading costs!
USTC Price (Week) from MEXC Global
In the seven days following the release of this plan, the price of USTC has increased by 80%. Since the news on Sunday, it has been trending upward. USTC is currently trading at $0.056, which represents a 30% increase over the previous day. The suggestion also notes the necessity for the Terra community to create a more durable market maker mechanism in order to encourage more companies to perform admirable deeds on the network.
Despite the fact that several nations, like Japan, use quantitative easing (QE) to support their economies, QE has limited potential and high dangers for re-pegging USTC. Andersen thinks QT will be a better long-lasting mechanism for stablecoin recapitalization in the form of burning taxes. Because of this, MEXC Global has supported Luna's burning system and thinks the Terra community is robust and dynamic, so we may work together to repair the environment. Support Luna Classic and Terra's stablecoin on MEXC Global today with minimal trading costs!
