TerraClassicUSD

TerraClassicUSD (USTC) was originally created as an algorithmic stablecoin intended to maintain a one-to-one peg with the US dollar within the Terra blockchain ecosystem, serving users who needed a stable unit of account for decentralized finance applications. Following the collapse of the Terra ecosystem in May 2022, the mechanism that maintained that peg was disabled, and USTC has since traded freely without any active stabilization system. It is classified as a stablecoin by category, but it no longer functions as one in practice, and its price is now determined entirely by market supply and demand.

USTC originally maintained its dollar peg through an automated seigniorage mechanism that paired it with LUNA (now LUNC), allowing one token to be minted by burning the other to arbitrage the price back toward one dollar. That mechanism is no longer active. The asset now lives within the Terra Classic ecosystem, where it continues to be used for gas fees, trading, and some decentralized finance applications, with the network operating under a SHA-256 consensus algorithm.

The data provided to this site contains no fee stream attributable to USTC, which means the fee-based measures that this site calculates for other assets are not applicable here. USTC's circulating supply stands at approximately 5.57 billion tokens, representing 91.71 percent of total supply issued at this point in time, with a dilution overhang of roughly 9.04 percent reflecting tokens not yet in circulation. The fully diluted valuation is 1.09 times the current market capitalization of approximately 28.75 million US dollars, a ratio that follows directly from those supply figures.