Login Description
Terra aims to build a new financial infrastructure that works better for everyone. The network is powered by a family of stablecoins, each pegged to major fiat currencies all algorithmically stabilized by Terra’s native token, Luna. Terra’s mission is to set money free by building open financial infrastructure. Luna, as the native staking asset from which the family of Terra stablecoins derives their stability, utility, and value, acts both as collateral for the entire Terra economy and as a staking token that secures the PoS network. Luna can be held and traded like a normal crypto asset, but can also be staked to accrue rewards in the network generated from transaction fees. Luna can also be used to make and vote on governance proposals.
The family of Terra stablecoins is designed to achieve stability through consistent mining rewards with a contracting and expanding money supply. For example, if the system has detected that the price of a Terra currency has deviated from its peg, it applies pressure to normalize the price. Currently, the family of Terra stablecoins includes: KRT (Terra stablecoin pegged to Korean Won), UST (Terra stablecoin pegged to US Dollar), MNT (Terra stablecoin pegged to Mongolian Togrog), SDR (Terra stablecoin pegged to IMF SDR), with more being added in the future.
| Full Name | TerraUSD (UST) |
|---|---|
| Start Date | N/A |
| Algorithm | N/A |
| Proof Type | PoS |
| Website | terra.money/ |
| @terra_money | |
| N/A | |
| N/A | |
| Block Number | N/A |
| Block Time | N/A |
| Block Reward | N/A |
| Previous Total Coins Mined | N/A |
| Net Hashes Per Second | N/A |
Israel's central bank seeks to establish stablecoin rules after terraUSD collapse
The Bank of Israel laid out a number of proposed rules for stablecoin activity in the country, in a move motivated by May's demise of algorithmic stablecoin terraUSD ( UST-USD ), according to a document published Wednesday. "The goal of the regulation is to allow activity in stablecoins while managing the risk inherent in using them, and adjusting the consumer protections and prudential requirements to this unique activity," the central bank said. As such, the BoI recommended requiring stablecoi...
02-22-2023 20:04
TerraUSD Stablecoin Scandal: SEC Sues Terraform Labs and Do Kwon for Deceiving Investors – Here's What Happened
The US Securities and Exchange Commission (SEC) has sued Terra founder Do Kwon and his organization Terraform Labs for securities fraud. “[The SEC] today charged Singapore-based Terraform Labs PTE Ltd and Do Hyeong Kwon with orchestrating a multi-billion dollar crypto asset securities fraud involving an algorithmic stablecoin and other crypto asset securities,” the SEC wrote in a press release published on Thursday.... Read More: TerraUSD Stablecoin Scandal: SEC Sues Terraform Labs and Do Kwon f...
02-17-2023 14:22
SEC Sues Do Kwon and Terraform Labs Over TerraUSD (UST) Stablecoin Collapse
The United States Securities and Exchange Commission (SEC) finally pounced on the team behind the failed TerraUSD (UST) stablecoin project — TerraForm Labs — and its founder/ CEO Do Kwon. The SEC alleges that the defendants manipulated the price of UST, citing that “the Terra ecosystem was neither decentralized nor finance.” A fresh report showed The post SEC Sues Do Kwon and Terraform Labs Over TerraUSD (UST) Stablecoin Collapse appeared first on Times Tabloid .
02-17-2023 00:03
SEC Sues Terraform Labs, Do Kwon for Misleading Investors on TerraUSD Stablecoin
The collapse of TerraUSD last year led to wave of bankruptcies in the crypto industry.
02-16-2023 21:57
USDD On Path to become the Next TerraUSD?
On November 6 and 7, the functionality of FTX withdrawals was terminated. Two days later, news of some sort broke regarding the USDD. On November 9, the price experienced a momentary surge to $1.01 before it started to fall.
12-15-2022 08:36
