By Kanchan Joshi | 26 May, 2022
Terra developers to create new blockchain with revived Luna, abandon collapsed UST stablecoin
Developers behind failed stablecoin TerraUSD have voted to abandon the token in favor of creating a new blockchain and digital asset weeks after the cryptocurrency collapsed. Under the recovery plan for the Terra ecosystem, developers will create a new Terra blockchain with a revived Luna token.Unlike most other major stablecoins which are backed by other assets, TerraUSD's value was derived by co...
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