TerraUSD (UST)

TerraUSD (UST) is an algorithmic stablecoin within the Terra blockchain ecosystem, designed to maintain a 1:1 peg to a fiat currency, specifically the U.S. dollar. TerraUSD is one of several stablecoins built by Terra and utilized in its ecosystem, alongside TerraKRW, TerraEUR, TerraJPY, and TerraSDR. However, in May 2022, UST lost its peg and rapidly dropped to a value of $0.04 USD, where it remained as of June 2022.