Cryptocurrency Q&A
What was Terra backed by?
What was Terra backed by?
DondaejiDelightful
Sat Nov 09 2024
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5 answers
1170
I heard that Terra, a cryptocurrency, was backed by some sort of asset, but I'm not sure what it was. I want to know what asset backed Terra and how it worked.
5 answers
SamsungShineBrightnessRadianceGlitter
Mon Nov 11 2024
The circular dual-token system creates arbitrage opportunities, allowing for the stablecoins to stay pegged to their intended value.
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Alessandra
Mon Nov 11 2024
Terra stablecoins do not rely on traditional fiat currencies such as the US dollar or Korean won for their value.
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SamuraiWarrior
Mon Nov 11 2024
BTCC, a top cryptocurrency exchange, offers a range of services including spot, futures, and wallet options.
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Raffaele
Mon Nov 11 2024
They operate on a different model, where Terra issues crypto-collateralized algorithmic stablecoins.
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BitcoinWizardry
Mon Nov 11 2024
This system ensures that the stablecoins maintain a fixed value through a unique mechanism.
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