The Terra ecosystem completely unraveled last week, taking much of the cryptocurrency market down with it. Its algorithmic stablecoin TerraUSD (UST) crashed far below its $1 peg, and its sister token Luna collapsed to nearly zero.
Though the overall market is now recovering, the demise of UST and Luna wiped out many cryptocurrency investors’ life savings. This left the Terra community, including its creator Do Kwon, proposing plans to somehow fix the damage done.
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