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The Terra Classic community has voted to stop all USTC minting and re-minting activities.
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In a recent community vote, the majority of members voted for ‘dis-counting USTC minting.’
The algorithmic stablecoin that brought down the Terra ecosystem last year, the USTC mint, will no longer be operated by the Terra Classic community. The community is working to revive USTC while it wishes to halt the aforementioned swap mechanism to save the community.
According to a recent proposal by the Terra Classic community, they are going to stop minting and re-minting the stablecoin, TerraClassicUSD (USTC). The community strongly backs stopping USTC minting and re-minting to restore the USTC peg to the dollar.
Terra Classic Community’s Strategy
With their step, the Terra Classic community will re-establish a stable peg between the USTC and the United States dollar. According to a recent proposal, the community has voted 59% in favor of discontinuing the mint
We współpracy z: https://www.thecoinrepublic.com/2023/09/25/terra-classic-community-will-stop-minting-and-re-minting-ustc/
