The Fall of Terra Luna and Terra USD

 The last few days have been about the fall of TerraUSD and Terra-Luna. TerraUSD and Terra-Luna are crypto projects out of South Korea.  As the names imply, they are both run by a person named Do Kwon.  The fall of TerraUSD has led to the subsequent fall of Terra-Luna.


What are Terra USD and Terra-Luna?

Terra USD is a stable coin backed by Bitcoin and Terra-Luna is the connected blockchain protocol. 

From coinmarketcap.com:

TerraUSD (UST) is the decentralized and algorithmic stablecoin of the Terra blockchain. It is a scalable, yield-bearing coin that is value-pegged to the US Dollar. TerraUSD was created to deliver value to the Terra community and offer a scalable solution for DeFi amid severe scalability problems faced by other stablecoin leaders like Dai. Thus, TerraUSD promises users a higher level of scalability, interest rate accuracy, and interchain usage.

Terra-Luna is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements.


TerraUSD and Terra-Luna Price and Dominance Charts





























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