TerraUSD (UST) is a US-dollar pegged stablecoin built on the Ethereum network. At all times the value of a single UST token is one US dollar, hence the term stablecoin.
Similar to DAI, UST is a decentralised stablecoin, meaning that it manages its value through an algorithm rather than physically holding the correct amount of USD. In UST’s case, minting each dollar requires the network to burn an equivalent amount of the Terra network’s reserve asset, LUNA.
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