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TerraCVita Mulls New LUNC-backed Stablecoin in Response to Binance’s CZ AMA

Independent Terra Classic development group TerraCVita recently discussed the possibility of creating a new algorithmic stablecoin for the Terra Classic chain that could, among other things, burn Terra Luna Classic (LUNC) faster.

It happened in a Twitter exchange between Rex Harrison, aka Rexzy, a senior group member, and the TerraCVita official account on Thursday. The conversation started in response to statements made by Binance Chief Executive Officer Changpeng Zhao in an ask me anything (AMA) session hosted on Twitter spaces on Wednesday.

“One issue with UST was non-transparency. When UST crashed, no one knew what Do Kwon or his team were doing about it. And Do Kwon acted too slowly to use BTC reserves to restore the peg,” said the Binance chief speaking on the problems with stablecoins and TerraUSD (UST), now known as TerraClassicUSD (USTC).

TerraCVita Terra Classic
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