What is difference between UST and USDC?
While USDT is used more frequently for trading and payments, USDC is often described as a safer stablecoin since Centre makes a greater effort to comply with audits and governmental regulation, and has more transparent, fully-backed reserves.
How is UST different from other stablecoins?
TerraUSD or UST, is an algorithmic stablecoin which was supposed to be pegged to the U.S. dollar. Whereas stablecoins like tether and USD Coin are backed by real-world assets such as fiat currencies and government bonds in order to maintain their dollar peg, UST was governed by an algorithm.
What is UST cryptocurrency?
At a high level, TerraUSD (UST) is a decentralized algorithmic stablecoin that aims to maintain the value of 1 UST=$1 through a “mint/burn” mechanism. Maintaining dollar-peg stability means algorithmically regulating supply and demand of the coin – a computer programme balances the price.
Is Terra USD the same as UST?
TerraUSD (UST) is the decentralized and algorithmic stablecoin of the Terra blockchain. Its value is pegged 1:1 to the US dollar, making it an ideal medium of exchange on DeFi and TraFi platforms. We support the Ethereum (ERC-20) version of UST, which is a multi-chain asset.