Terra Luna Classic community votes to stop minting USTC tokens to fix its value after Terra’s 2022 crash.
Due to oversupply issues, the community aims to speed up the burning of LUNA tokens to boost their worth.
In a significant development within the Terra Luna Classic (LUNC) community, a decisive vote with nearly 60% in favor has resulted in a decision to halt the minting and reminting of Terra Classic UST (USTC) tokens. This move is seen as a collective response to the challenges faced by USTC, stemming from the collapse of Terra in May 2022, which had a ripple effect across the cryptocurrency market, particularly impacting the value of USTC.
The core objective behind the decision to cease USTC minting and reminting is to initiate a process that can potentially stabilize the beleaguered stablecoin. Part of this strategy involves encouraging members of the Terra Classic community to actively engage in the burning of USTC tokens, a measure aimed at reducing the circulating supply of

Czytaj więcej

We współpracy z: https://www.crypto-news-flash.com/reviving-the-peg-terra-classics-plan-to-bring-ustc-back-to-1/?utm_source=rss&utm_medium=rss&utm_campaign=reviving-the-peg-terra-classics-plan-to-bring-ustc-back-to-1