TerraClassicUSD History

What does TerraClassicUSD do?

TerraClassicUSD (CRYPTO:USTC) is a decentralized stablecoin with a 1:1 USD peg, created by Terraform Labs. It rapidly gained popularity, reaching a peak market cap of $18 billion in May 2022. However, a crisis struck that month, causing a peg loss and significant price drop, leading to Terraform Labs halting Terra blockchain trading. Presently, TerraClassicUSD is undergoing revival under the Terra Classic Core team, launching a new blockchain with a different consensus mechanism and no ties to Terraform Labs. The team's goals are to restore the USTC peg, foster a fresh community, and attract developers and projects. Despite its early stage, the Terra Classic project is community-driven and holds potential in decentralized finance.

Documentation

Company Snapshot

Employees

50+

Market Cap

$63.84M

Head Office

Singapore

Year Founded

2018

What does TerraClassicUSD specialise in?

/Alleged SEC Securities /Avalanche Ecosystem /Ethereum Ecosystem /Fantom Ecosystem /Harmony Ecosystem /Injective Ecosystem /Moonbeam Ecosystem /Oasis Ecosystem /Osmosis Ecosystem /Polygon Ecosystem /Secret Ecosystem /Seigniorage /Solana Ecosystem /Terra Ecosystem

What are the products and/or services of TerraClassicUSD?

Overview of TerraClassicUSD offerings

Decentralized: TerraClassicUSD is a decentralized stablecoin, which means that it is not controlled by any government or financial institution. This makes it more resistant to censorship and manipulation.

Diverse: TerraClassicUSD is a diverse stablecoin, meaning that it can be used for a variety of purposes, such as payments, trading, and investment.

Efficient: TerraClassicUSD is an efficient stablecoin, meaning that transactions are processed quickly and cheaply.

Global: TerraClassicUSD is a global stablecoin, meaning that it can be used to send and receive payments anywhere in the world.

Secure: TerraClassicUSD is a secure stablecoin, meaning that it is protected by cryptography. This makes it difficult to counterfeit or hack.

Transparent: TerraClassicUSD is a transparent stablecoin, meaning that all of its transactions are recorded on a public blockchain. This makes it easier to track the movement of funds and to identify any suspicious activity.

TerraClassicUSD

What does TerraClassicUSD do?