Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.
By now, everyone is well aware of what happened with the recent TerraLuna and TerraUSD debacle, which led to a sharp decline in Bitcoin’s price and pushed the market even further into the red. For those who don’t know though, TerraUSD had been almost exactly pegged to the dollar since its inception, but it crashed on May 9th, 2022. Its sister coin, LUNA, was worth over USD 80 per token at the beginning of May this year, but it was only worth a fraction of a cent as of May 18th.
Now, Tezro has come up with a new strategy through which USTC holders may exchange their tokens for TezroST, a token used primarily to buy various services and goods that is also backed by Tether. The exchange rate shall be USD 1 for every USTC token.
Time to move on
The aforementioned situation of the two Terra coins crashing led to a financial crisis within the crypto industry, with their demise having a...
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