Hi yall sorry for the noob question. Just found yall.

Question

Hi yall sorry for the noob question. Just found yall.

I am very instrested in learning how to stake ust for the 20% apy. Noob question is how is ust backed and what peace of mind can yall give me ust won't crash. Can an admin post the links to the dashboard to earn and website or where I can read whitepaper. I have been burned by 2 defi projects so far and I'm scared of defi but I keep hearing its the future is there any way ust can crash?

#blockchain #cryptocurrency #english #luna

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19.01.2022

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Jdizzle ⭕ Автор вопроса

Thank you for responding I appreciate you. I'm guessing Terra trusts anchor protocol if ur giving me the link to it. So ust is backed by Luna and soon btc as well. Worst case scenario is Luna and btc crashes, that would be the only reason ust falls below 1 dollar? More stupid questions how long has ust been in existence, has it ever fallen below or above 1 dollar?

0

19.01.2022

Rose🌹 | cosmosrescue · Accepted Answer

Anchor is one of the most important protocols built on Terra. You can see all the different protocols on the Terra website https://www.terra.money/ecosystem I think the May crash was when UST lost its peg (momentarily) quite badly. This was before the Columbus-5 upgrade. I don't keep track of it too much and am not the best with explaining how it holds its peg (it's done with minting and burning Luna), perhaps someone else can do better. But I have seen a few charts where it has performed better than other stablecoins in times of high voliatility :) Maybe check out a UST/USD charts on an exchange.

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Hi yall sorry for the noob question. Just found yall.

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