TerraUSD Classic, the stablecoin at the center of Terra’s implosion, will no longer be minted.
Community members say the move could help protect users and outside investors who are burning USTC to help to achieve the repeg. Burning refers to the permanent deletion of tokens from circulation by sending them to an address that’s not controlled by anyone.
The USTC was intended to be pegged at $1 by this mechanism, and members hoped that burning tokens could eventually let USTC meet that goal. This, however, could require the trillions of tokens to be burned.
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