Dear Nami Community,
In order to expand the trading options to users and the community, Nami Exchange would like to announce the listing of TerraClassicUSD (USTC) with USTC/USDT, USTC/VNST and USTC/VNDC spot and swap trading pairs at 2023-11-28 09:00 (UTC).
Deposits and Withdrawals will open since listing time.
What is TerraClassicUSD (USTC)?
Rebranded from TerraUSD (UST), TerraClassicUSD (USTC) is a decentralized algorithmic stablecoin on the Terra Classic blockchain. After the depeg of USTC in May 2022, the Terra community decided to create a new blockchain without the algorithmic stablecoins called Terra 2.0. The original blockchain is renamed as Terra Classic.
USTC is designed to be pegged to 1 USD, and in order to mint 1 USTC, 1 USD worth of the reserve asset, LUNC, must be burned. USTC's stability mechanism depends on arbitrage activities by users. For instance, when the price of USTC falls to $0.95 in secondary markets, users can purchase 100 USTC with $95 on exchanges, and redeem these tokens on the Terra platform for LUNC tokens worth $100. If the price of 1 USTC goes above $1, users can purchase USTC on the Terra platform and sell on exchanges for a profit.
USTC Token Information
Note: Nami reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reason without prior notice.
Risk Warning: Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Nami is not liable for any losses that might arise from your investment. This information should not be regarded as financial or investment advice.
About Nami Exchange
Nami Exchange is a trading platform belonging to the Nami Foundation ecosystem that enables dynamic trading and effective investing through its Spot and Futures trading systems, which offer a wide selection of nearly 1,000 trading pairs, support leverage up to x125, and 24/7 live support in Vietnamese & English.
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