The market value of Terra’s ecological stablecoin UST exceeded $14 billion for the first time, surpassing Shiba Inu (SHIB) and ranking 14th in the cryptocurrency market capitalization rankings.
It is reported that UST is an algorithmic stable coin. For every UST minted, LUNA tokens worth 1 USD need to be burned.
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UST’s monetary policy is infinitely scalable. As previously reported, due to the continued high demand for UST, the Terra ecological development organization Luna Foundation Guard (LFG) decided to burn 4.2 million LUNA again and cast it into UST (about 400 million US dollars).
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