Terra is a blockchain protocol built on the Tendermint — Cosmos SDK that enables stable programmable payments and the development of open financial infrastructure. It is backed by a basket of fiat-pegged coins, including UST, which are stabilised by LUNA, its native crypto-asset.
The Terra network has developed a stablecoin suite for platforms that use decentralised finance (DeFi) and traditional finance (TraFi). Its infrastructure, for example, powers Mirror Protocol, a decentralised exchange built on Terra and Ethereum, as well as CHAI, a South Korean payment network with over 1.3 million users. Terra achieves price stability by adjusting its supply algorithmically in response to fluctuations in demand for LUNA and its stablecoins.
TerraUSD (UST) is the Terra blockchain’s decentralised and algorithmic stablecoin. Its value is pegged to the US dollar at a 1:1 ratio, making it an ideal medium of exchange on the DeFi and TraFi platforms. The Ethereum (ERC-20) version of UST, which is a multi-chain asset, is supported.
According to the TerraUSD blog, the project’s goal is to solve the problems that are commonly associated with stablecoins. Scalability and interoperability are two examples. UST is a well-known interchain coin, which means it can be used with a variety of blockchain protocols (e.g. Solana, Terra and Ethereum).
This is accomplished through the use of a bridging protocol known as ‘Dropship,’ which was inspired by the video game StarCraft. The bridging protocol enables the distribution of UST across a wide range of decentralised finance applications. Terra intends for the token’s interchain capabilities to serve as a foundation for the future success of the entire cryptocurrency ecosystem. The coin can be staked, swapped, and liquidity farmed on decentralised exchanges (DEXs), as well as used to buy and sell goods/services on supported websites that participate in the PaywithTerra initiative.
TerraUSD (UST) is the 20th most valuable cryptocurrency in the world, with a market cap of $10,078,716,844. TerraUSD is currently trading at $1, up 0.156 percent from yesterday. Over the last 24 hours, prices have ranged between $1.01 and $0.993124. All prices are in US dollars and were correct as of December 28, 2021 03:12 UTC.
To make purchasing TerraUSD easier, look for an exchange that accepts both fiat and cryptocurrency.
- Create an account on a UST-accepting exchange.
- To compare popular options, visit our table — just keep in mind that most exchanges require an email address, phone number, and proof of ID to register.
- Make a deposit into your account.
- To purchase TerraUSD, fund your account with a bank transfer, pay with a credit or debit card, or deposit cryptocurrency from a cryptocurrency wallet.
- Purchase TerraUSD.
- Complete your TerraUSD purchase before looking for the best wallet to store your UST.
