Terra Classic

Terra

Coin

<ul class="news-points">
 <li>The Terra Classic ecosystem submitted a proposal to stop minting and reminting USTC.</li>
 <li>USTC, LUNC, and LUNA showcased substantial hikes following the proposal.</li>
 <li>The ecosystem envisions the re-pegging of USTC to US dollars.</li>
</ul>
The Terra Classic tokens have been creating ripples in the <a href="https://coinedition.com/market/" rel="noopener noreferrer nofollow">crypto market</a> over the past few days, with substantial price surges following the ecosystem’s proposal to disable USTC minting. The proposal, which goes by the title “Fulfill prop #11784 by disabling USTC minting by raising Tobin tax to 100%,” intends to stop minting and reminting USTC.
Since the fall of Do Kwon’s Terraform Labs in 2022, the community has been working to rebuild it to its former strength. With the fall of the platform, its tokens, including <a href="https://coinedition.com/lunas-terra-v2-5-upgrade-signals-renewed-bullish-momentum/" rel="noopener noreferrer nofollow">LUNA</a>, USTC, and LUNC, experienced major dips, with USTC depegged from the US Dollar, which in turn led to the fall of LUNA by almost 100%.
Following the Terra-Luna crises, the platform disabled the mechanism of minting and reminting USTC. As per reports, the only UST minting currently facilitated is “through the market module, which allows burning a coin to mint another”.&nbsp;
The proposal focuses on preventing users fro…
The post <a href="https://coinedition.com/community-accepts-terra-lunas-proposal-to-stop-minting-ustc/" rel="noopener noreferrer nofollow">Community Accepts Terra Luna’s Proposal to Stop Minting USTC</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Community Accepts Terra Luna’s Proposal to Stop Minting USTC

Coin Edition

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