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Terra Classic community votes to stop minting Terra Classic USD (USTC)
According to BlockBeats news, on September 24, The Block reported that the Terra Classic (LUNC) community voted to stop the minting of all Terra Classic USD (USTC), an algorithmic stablecoin originally named UST. The proposal, which passed with 59% support, aims to protect “the community and outside investors who are destroying USTC to help restore the anchor.” According to data from LUNC Metrics, the community has destroyed only 75 billion tokens so far, accounting for approximately 1% of the nearly 6 trillion circulating tokens. USTC is currently quoted at $0.012.
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