TerraClassicUSD (USTC), a new cryptocurrency coin native to the Ethereum blockchain, was launched in 2021. It is a stablecoin designed to maintain a 1:1 parity with the US dollar, by utilizing the Ethereum blockchain. USTC was founded by the Terra Foundation, a technology-focused financial company, which provides flexibly-structured solutions and services based on financial technology and blockchain. The Terra Foundation is also the creator of Terra, a stablecoin project that has raised more than $130 million. As a fully whitelisted stablecoin, TerraClassicUSD has several features that make it unique. It is a fork of the existing Terra blockchain, but with a native token that is redeemable for US dollars. This allows it to maintain a pegging with the USD without requiring a dedicated reserve and ensures that the network remains secure and immutable. Additionally, the token is backed by collateral from Ethereum-based projects, including tokens from Chainlink and Synthetix. The TerraClassicUSD token can be used for a variety of activities, including merchants, purchases, and remittances. It is also being explored for use in fiat-aligned banking solutions. Currently, the coin can be purchased and traded on many popular exchanges such as Bithumb, Upbit, Coinbase Pro, Binance, and more. The TerraClassicUSD is a new and exciting cryptocurrency coin that has a lot of potential. It is designed to maintain a 1:1 parity with the US dollar and is backed by a variety of Ethereum-based projects. The coin offers a degree of stability unparalleled in the market and is available to trade on many popular exchanges. With its many uses, TerraClassicUSD has the potential to be an important player in the crypto space in the years to come. Comment 1: TerraClassicUSD is an interesting new cryptocurrency and it is great to see it backed by some of the most popular Ethereum-based projects. It has lots of potential and I'm excited to see how it develops in the months ahead. Comment 2: I think it is really cool that TerraClassicUSD is able to maintain a pegging with the USD without requiring a dedicated reserve. This adds an extra level of stability and makes it an exciting option for traders and investors.
