Terra outlines stablecoin support measures as Luna slides below 10 cents By Timccopeland
Terra has put forward several measures to help fix the UST peg and support the price of Luna.Terraform Labs published extra measures on Thursday to help restore the TerraUSD peg with the US dollar and support Luna's cratering price.yesterday. This is designed to increase the amount of UST that can be swapped for Luna by four times. The goal is to allow UST holders to cash out, with the hope of improving its peg to the dollar.
Once the new base pool proposal passes, this will also expedite the process," Terraform Labs said in aTerraform Labs also mentioned three further actions which it is taking. First, it is going to burn the remaining UST in Terra's community pool. This is currently just over 1 billion UST, although that's only worth about $590 million at current prices.that's currently on the Ethereum blockchain, which is being used for liquidity incentives.
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