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The breakdown of the Terra Luna ecosystem has a significant impact on algorithmic stablecoins. Tobias Andersen, a blockchain developer, suggested using quantitative tightening (QT) in a USTC re-peg proposal that was posted on Medium on October 9. QT can be utilized by Terra to recapitalize the stablecoin. Additionally, Andersen believes USTC to be a significant resource for the Terra community and that its price may be increased to its original $1 worth.

Since this idea was made public, USTC's price has risen by roughly 80% during the past week. It has been moving in a bullish trend since the Sunday news. At the time of writing, USTC is trading at $0.056, a 30% rise from the previous day. The plan also suggests that a more robust market maker mechanism be built by the Terra community in order to incentivize more businesses to develop cutting-edge apps on the network.

Quantitative easing (QE), albeit used by many countries, like Japan, to stimulate their economies, has few opportunities and poses a significant danger when it comes to re-pegging USTC. According to Andersen, the Terra community will benefit more in the long run by using QT in the form of burning taxes to recapitalize the stablecoin USTC. Because of this, MEXC Global has been a supporter of Luna's burning system, and we are sure that the Terran community is strong and vibrant enough for us to cooperate in reestablishing the environment.

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The launch of international cryptocurrency payments has been made possible thanks to a partnership between one of the major cryptocurrency exchanges in the world, FTX, and financial services giant Visa. The FTX website states that using the card to pay for goods and services is free. Furthermore, obtaining a debit card is cost-free.

According to Cointelegraph, FTX works with the more seasoned payment network as opposed to Lightning Network. This backs up Sam Bankman's claim that Fried does not consider Bitcoin to be a workable payment network, especially given that its price has been bouncing around the low $20,000 range. On the other hand, the statement caused the price of the FTX token, or FTT, to rise 7%, reaching a high of $26,462 on Friday, October 7.

Even if the first cryptocurrency (BTC) was created more than 10 years ago, adoption of cryptocurrencies and the growth of payment services are still in their infancy. Retailers are hesitant to employ scaling solutions like Lightning Network due to their fear of price volatility.

Despite the fact that ETHW is not listed on Binance, the exchange yesterday declared that it will launch an Ethereum Proof-of-Work mining pool. The merge changed the Proof-of-Work mechanism in Ethereum's network to the more scalable and environmentally friendly Proof-of-Stake mechanism. ETHW, on the other side, is the fork of Ethereum that will keep using the original Proof-of-Work algorithm. Supporters of PoS (ETH) frequently criticize PoW for its enormous energy consumption during mining.

At the time of writing, the price of ETHW on September 29 is $11.968, an increase of 11.38% (during the previous 24 hours). It's important to note that on September 15, when the merger took place, ETHW was trading at $9.13, down 71.55% from the previous day. We might be able to witness a more significant price increase in the near future when more centralized exchanges establish and list ETHW mining pools.

Supporters of PoW think that PoW offers a higher level of security. Additionally, nearly 40% of the total energy utilized in mining worldwide is renewable energy, according to Smart Energy. MEXC Global lists ETHW to provide users the option to select between PoW and PoS.

The Maker Protocol or MKR are further names for the Multi-Collateral Dai (MCD) system. On the Ethereum network, MakerDAO was established in 2014 as a Decentralized Autonomous Organization and open-source initiative. Those in charge of it have the MKR token, which is utilized for global governance. Many facets of the Maker Protocol are governed by a process known as Maker Governance, which is organized and managed by the community.

Some Information about the Maker Protocol
It is one of the most well-known decentralized applications (dApps) on the Ethereum blockchain and the first decentralized finance (DeFi) application to be accepted by all countries. Users can create their own money on the protocol. The Maker Collateral Vaults, Dai stablecoin, and Voting are the current components of the Maker Protocol. By employing the voting power of MKR holders to make decisions on important matters like stability fees, collateral types, and more, MakerDAO rules the Maker Protocol. Owners of MKR are in charge of managing the financial risks associated with Dai as well as the stability, openness, and effectiveness of the Protocol. A vote is equal to one MKR token locked in a voting contract.

How does the protocol work?
The Maker Protocol uses Maker Vaults, a type of smart contract, to create new Dai. A number of web applications and interfaces, which effectively serve as network gateways, can be used to establish these contracts. Users must first return the Dai they generated together with a stability charge in order to obtain their collateralized coin via the smart contract.

MKR tokens may also be used by Maker Protocol as a form of governance. Voting suggestions are handled using smart contracts, which can be launched from any Ethereum address. After MKR holders have the opportunity to vote on which proposal they would want to pass, administrative authority to implement the proposed change to the Maker Protocol will be given to the MKR address with the most MKR approval votes.

So what is Dai?
Dai is a stablecoin that is decentralized, collateralized, and pegged to the US dollar. It may sound complicated, but the fundamental idea is that it refers to a cryptocurrency that operates independently from a centralized authority and whose price is roughly correlated to the value of the dollar.

Dai is also unbiased because he is not in a position of power. It is not controlled by a for-profit organization, in contrast to USDT stablecoin. It is collateralized since only Maker Protocol users can issue new Dai by funding a smart contract with the necessary quantity of other cryptocurrencies to support freshly issued DAI. The Dai Savings Rate will determine the interest rate Dai holders can get on their stablecoins through the Maker Protocol (DSR).

Holders of MKR can reduce price volatility when the market price of Dai diverges from the Target Price by voting to adjust the DSR in accordance with market conditions:

• On the market, Dai is more expensive than one USD. MKR vehicle owners may gradually reduce the DSR. Less demand will cause the market price of Dai to become closer to the target price of 1 USD.
• The market price of Dai is below $1 USD. Holders of MKR may choose to gradually raise the DSR. The market price of Dai should rise to the $1 USD target price as a result of increased demand.

Recapitalization: MKR
The MKR token serves as a resource for recapitalizing the Maker Protocol in addition to Maker Governance. If the system's debt exceeds its surplus, a debt auction may be used to raise more MKR tokens in order to recapitalize the system. To reduce danger, MKR holders are urged to work together and carefully regulate the Maker ecosystem.