TerraClassicUSD

TerraClassicUSD (USTC) was originally designed as an algorithmic stablecoin intended to maintain a one-to-one peg with the US dollar within the Terra blockchain ecosystem, targeting users and applications that needed a stable unit of account on-chain. Following the collapse of the Terra ecosystem in May 2022, the mechanism that maintained that peg was disabled, and USTC has since traded freely rather than at one dollar. It continues to circulate within the Terra Classic ecosystem, where it is used for purposes such as decentralized finance applications and gas fees, but it no longer functions as a stablecoin in any practical sense.

USTC originally maintained its dollar peg through an automated seigniorage mechanism involving LUNA, now known as LUNC, but that system is no longer active. The asset is recorded as using SHA-256 consensus, and the block time stored for this network is zero minutes, which means no further mechanical detail about block production can be reliably stated from the available data. USTC now exists as a freely traded token on Terra Classic and is accessible through ecosystems such as Osmosis, with its price determined entirely by open-market supply and demand.

There is no fee stream described in the data provided for USTC, which means this site carries no fee-based measures such as protocol revenue or fee yields for this asset. USTC can be used to pay gas fees within the Terra Classic network, meaning users pay fees denominated in USTC to transact, but no data is stored here about who collects those fees or in what amounts. The 24-hour turnover ratio stands at 3.449114 over the most recent 24-hour period, reflecting trading volume relative to market capitalisation, though this is a measure of market activity rather than protocol fee generation.