USTC to USD | $0.024910 |
USTC to PHP | ₱1.4527 |
USTC to EUR | €0.023757 |
USTC to IDR | Rp 397.61 |
USTC to GBP | £0.019569 |
USTC to CAD | $0.035296 |
USTC to AED | AED 0.091494 |
USTC to VND | ₫632.55 |
TerraClassicUSD (USTC), previously known as TerraUSD (UST), is the decentralized and algorithmic stablecoin of the Terra blockchain. It was created to deliver scalable DeFi solutions across chains. After the UST depeg and subsequent migration to Terra 2.0, UST is renamed to USTC and continues trading on the old Terra Classic Blockchain.
Unlike other stablecoins, the USTC price is not backed by a reserve of stable assets. Instead, USTC is an algorithmic stablecoin with prices maintained by Terra's market module algorithm. If the demand for USTC is higher than its supply, the price of USTC surpasses its dollar peg. In this case, the Terra protocol incentivizes users to burn LUNC and mint USTC, thereby increasing the supply of USTC to match the market demand and restore its peg.
On the other hand, if the USTC supply is higher than the market demand, it falls below its peg. Here, users are incentivized to burn USTC and mint LUNC, reducing the USTC supply.
Easily buy USTC tokens on the OKX TR cryptocurrency platform. Available trading pairs in the OKX TR spot trading terminal include USTC/USDT.
You can also swap your existing cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC), for USTC with zero fees and no price slippage by using OKX TR Convert.