What Is TerraUSD (UST) Stablecoin?


What Is TerraUSD (UST) Stablecoin?TerraUSD (UST) appeared as a stablecoin that intends to benefit users and the community at large. The guide provides detailed description of the coin and explains the advantages of UST over alternative stablecoins.

TerraUSD (or UST) is a decentralized, scalable, interest-bearing, and algorithmic stablecoin offering a wide range of features. In particular, it is famous for its predominantly infinitely scalable monetary policy. The stablecoin has grown into its role as the ultimately scalable stablecoin since its launch in 2020. With a surging demand in stablecoins, it was clear that most of them are not genuinely scalable. Therefore, there was a need for a stablecoin like TerraUSD. It is set to challenge stablecoin market leader DAI. It offers a scalable experience to the DeFi market amid the severe scalability issues many conventional chains face.

TerraUSD Launch
Do Kwon and Daniel Shin started Terra, the company behind TerraUSD, back in April 2019. On September 12, 2020, they released TerraUSD on Bittrex Global. Since TerraUSD’s debut on the market, it has been wildly successful, beating competitors like Gemini’s GUSD and Paxos’ PAX, both backed by fiat money held in actual banks and subject to issuer control.

Terra, TerraUSD’s native blockchain, is a brainchild of Terraform Labs. The latter is a subsidiary of the Terra Alliance that consists of 16 e-commerce companies spread out around East Asia. Its founders Do Kwon and Daniel Shin are both exceptional professionals. Daniel Shin is a brilliant economist and entrepreneur. He has established other companies like TMON and Fast Track Asia in the past, while Do Kwon is a former Microsoft Corp (NYSE: MSFT) and Apple Inc (NYSE: AAPL) software engineer. He is listed on Forbes Under 30 list of most successful entrepreneurs in the world.

Launching with a combination of features that no other stablecoin has managed to put together yet has no doubt helped UST. Despite it is relatively new, its success has been unprecedented in the industry. Experts predict the UST will soon overcome the top stablecoin in its category, MakerDAO’s DAI.

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