Terra LUNA is one of the most exciting cryptos of recent years, and its tight integration with UST is setting it up to become the new crypto standard in its space.
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Tether has been the de facto stablecoin for years now after the very public failure of previous attempts at creating a decentralized version of a crypto that is pegged to the price of the dollar. But Terra’s UST coin gives an alternative possibility for how cryptos could keep their prices stable wihtout needing to centralize control. By incentivizing arbitrage between LUNA and UST, the chain allows its users to automatically maintain the price of UST, while simultaneously driving adoption of the LUNA token and ecosystem of dApps.
It remains to be seen if Terra will eventually overtake Tether to have UST become the dominant stablecoin, or if it will go down in flames similar to Titan and IronFinance in the past. Either way, Terra will definitely be on people’s minds in the months and years to come.
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