Terraform Labs’ UST Stablecoin “Broke the Buck”

In This Story: markets

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In This Story: Podcast

A podcast is an episodic series of digital audio files that a user can download to a personal device for easy listening.

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In This Story: Ripple

Ripple is a real-time gross settlement system, currency exchange and remittance network created by Ripple Labs Inc., a US-based technology company. The ledger employs the native cryptocurrency known as XRP.

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In This Story: Stablecoin

Stablecoins are cryptocurrencies where the price is designed to be pegged to a cryptocurrency, fiat money, or to exchange-traded commodities.

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In This Story: Terra

Terra 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.

Terra’s native token, LUNA, is used to stabilize the price of the protocol’s stablecoins. LUNA holders are also able to submit and vote on governance proposals, giving it the functionality of a governance token.

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In This Story: USDC

USD Coin (known by its ticker USDC) is a stablecoin that is pegged to the U.S. dollar on a 1:1 basis. Every unit of this cryptocurrency in circulation is backed up by $1 that is held in reserve, in a mix of cash and short-term U.S. Treasury bonds.

USD Coin is managed by a consortium called Centre, which was founded by Circle and includes members from the cryptocurrency exchange Coinbase and Bitcoin mining company Bitmain, an investor in Circle.

The stablecoin originally launched on a limited basis in September 2018.

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In This Story: World Economic Forum

The World Economic Forum, based in Cologny, Geneva Canton, Switzerland, is an international NGO, founded in 1971. The WEF’s mission is stated as “committed to improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas”.

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