Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => Topic started by: coingabbarmarket on September 26, 2023, 01:49:44 PM
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Terra Classic votes to end USTC mining and reminting activities
The Terra Classic community has voted to cease all mining and reminting activities associated with TerraUSD Classic (USTC) in order to reestablish a stable peg between USTC and the US Dollar. The community voted 59% in favor of a resolution to stop minting the USTC, while about 40% opposed the change. Let us tell you that the purpose behind this voting is to protect the interests of both the community and external investors by contributing to the goal of revaluation of the US dollar by reducing the supply of USTC.
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Terra Classic Community Votes to Stop USTC Minting as Revival Efforts Continue
The Terra Classic protocol will no longer mint terraUSD (USTC), the infamous token that slumped 99% amid the implosion of the once high-flying Terra protocol in 2022.
A community vote on Terra Classic’s governance forum that ended last week won 59% approval to stop all USTC minting. The current value of USTC is 1 cent as of Monday afternoon.
More for yourself visit herehttps://www.coindesk.com/tech/2023/09/25/terra-classic-community-votes-to-stop-ustc-minting-as-revival-efforts-continue/#:~:text=The%20Terra%20Classic%20protocol%20will,to%20stop%20all%20USTC%20minting. (https://www.coindesk.com/tech/2023/09/25/terra-classic-community-votes-to-stop-ustc-minting-as-revival-efforts-continue/#:~:text=The%20Terra%20Classic%20protocol%20will,to%20stop%20all%20USTC%20minting.)
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