Skip to content
Herald Sheets

Herald Sheets

Live Cryptocurrency News

Follow Herald Sheets on Twitter, Facebook, Telegram, Please Read Our Disclaimer

  • Homepage
  • Start Trading
  • Guide
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • Cardano (ADA)
    • Litecoin (LTC)
  • Analysis
  • Blockchain
  • Mining
  • Reviews
    • Brokers
    • Exchanges
  • Regulation
  • Press Release
  • About Us
    • Contact Us
    • Privacy Policy
    • Submit Press Release
  • Disclaimer
  • Altcoins
  • Crypto Trading
  • Cryptocurrency
  • Cryptocurrency Exchanges
  • News
  • Stablecoin
  • Terra (LUNA)

Terra List Measures to Save Falling UST

Alicia Maher May 12, 2022 3 min read

The cryptocurrency market is in one of its worst bearish seasons, as BTC and other major altcoins have witnessed a massive decline in value. Surprisingly, Stablecoins like UST is also affected by the wave of the ongoing market downtrend. 

As a result, stablecoin issuer Terraform Labs has proposed some measures to help improve TerraUSD’s peg against the USD and boost the falling value of its second token, LUNA. On Thursday, TFL CEO Do Kwon revealed that the measures, if implemented, would restore UST’s peg. However, the move has affected the value of LUNA.


trade now

What Terra Proposes

TFL submitted three proposals. First, it will burn the rest of UST, which is more than a billion in the pool. The value of the tokens is roughly about 590 million dollars as of today’s costs.

The second proposal will prompt Terra to burn the UST in the Ethereum chain. Currently, the UST serves as a reward token for providing liquidity. Based on reports, the UST will be transferred to Terra’s ecosystem where it will be eventually burned.

The final proposal will see Terra stake about 240 million LUNA to strengthen the protocol’s resistance against hacks. Given the low value of LUNA, attackers could acquire them in bulk and use them to manipulate the ecosystem. 

In total, Terra will be looking at getting rid of over 1.30 billion of its UST tokens. The team believes burning this massive figure will help UST get back on track.

The team explained its measures were developed to raise the number of swappable UST for LUNA quadruple times. When users cash out in numbers, the value against the USD will dramatically improve. The decision has consequently affected LUNA, as the token fell below 10 cents.

Terra Awaits the Process to Scale through the Threshold

The implementation process is still slow because the proposal has extra six days to reach the pass threshold. Terra Labs confirms that the whole process will be accelerated after the new base pool proposal scales through.

For the past week, Terra has been working day and night on solutions to arrest the recent price decline, which has taken a massive toll on almost all virtual currencies and tokens in the crypto space. Several users are affected by the dwindling in prices, and it’s the responsibility of TFL to seize the bleeding.  

Trade Now

HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us easily with Herald Sheets Facebook Messenger App. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Continue Reading

Previous: Why Shiba Inu and Dogecoin Are Crashing Today
Next: BIS Survey Says Several Central Banks From Across the World Are Exploring Central Bank Digital Currencies

Related Stories

Matrixport Downsizing 10% of Marketing Team, Cites Crypto Uncertainty and Stringent Regulations
2 min read
  • Cryptocurrency
  • Huobi Token (HT)
  • News
  • Regulation
  • Technology

Matrixport Downsizing 10% of Marketing Team, Cites Crypto Uncertainty and Stringent Regulations

January 29, 2023
Wylie Aronow Co-Founder Yuga Labs Seeks Medical Leave Citing Health Complication
2 min read
  • Cryptocurrency
  • News
  • NFT (Non-fungible token)
  • Technology

Wylie Aronow Co-Founder Yuga Labs Seeks Medical Leave Citing Health Complication

January 29, 2023
Amazon Set to Launch New NFT Initiative on Its Platform
2 min read
  • (GameFi) Gaming and Decentralized Finance
  • Cryptocurrency
  • News
  • NFT (Non-fungible token)
  • Regulation
  • Technology

Amazon Set to Launch New NFT Initiative on Its Platform

January 29, 2023

Top 10 Crypto

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$23,410.00
2.00%
ethereum
Ethereum (ETH)
$1,609.22
1.55%
tether
Tether (USDT)
$1.00
0.02%
usd-coin
USD Coin (USDC)
$1.00
-0.03%
binancecoin
BNB (BNB)
$317.10
3.26%
ripple
XRP (XRP)
$0.413330
0.26%
binance-usd
Binance USD (BUSD)
$1.00
-0.01%
cardano
Cardano (ADA)
$0.391231
1.55%
dogecoin
Dogecoin (DOGE)
$0.089963
0.78%
polkadot
Polkadot (DOT)
$6.58
1.53%

Recent Posts

  • Matrixport Downsizing 10% of Marketing Team, Cites Crypto Uncertainty and Stringent Regulations
  • Wylie Aronow Co-Founder Yuga Labs Seeks Medical Leave Citing Health Complication
  • Amazon Set to Launch New NFT Initiative on Its Platform
  • CFTC Wants More Jurisdiction Over the Crypto Space; Here’s What the Commission Has Been Up to
  • Aave Protocol Announces Launch of New Version, Aave V3
  • Korean Authorities Order The Arrest Of Bithumb Crypto Exchange Owner
  • New Collaboration Will Allow Content Platforms To Accept Micropayments In BTC
  • Azuki Twitter Account Targeted, Hacker Drains $700K Within Minutes
  • MetisDAO Foundation Believes Smart Contracts Will Power Web3 Firms’ Daily Operations
  • Genesis Drags Roger Ver To Court Over $20M Unsettled Crypto Options Trades
  • We Haven’t Issued Any Operational License To Any Crypto Service Provider – UAE’s VARA
  • The New FTX CEO Plans To Restart The Failed Crypto Exchange
  • British Policymakers Can’t Agree On Whether To Ban The Sale Of Crypto Investment Products 
  • User Acquires 850 Billion SHIB Ahead Of Shibarium Beta Launch
  • A Hacker Promote Scam Token On Robinhood Social Media, Binance Froze the Wallet

Categories

You may have missed

Matrixport Downsizing 10% of Marketing Team, Cites Crypto Uncertainty and Stringent Regulations
2 min read
  • Cryptocurrency
  • Huobi Token (HT)
  • News
  • Regulation
  • Technology

Matrixport Downsizing 10% of Marketing Team, Cites Crypto Uncertainty and Stringent Regulations

January 29, 2023
Wylie Aronow Co-Founder Yuga Labs Seeks Medical Leave Citing Health Complication
2 min read
  • Cryptocurrency
  • News
  • NFT (Non-fungible token)
  • Technology

Wylie Aronow Co-Founder Yuga Labs Seeks Medical Leave Citing Health Complication

January 29, 2023
Amazon Set to Launch New NFT Initiative on Its Platform
2 min read
  • (GameFi) Gaming and Decentralized Finance
  • Cryptocurrency
  • News
  • NFT (Non-fungible token)
  • Regulation
  • Technology

Amazon Set to Launch New NFT Initiative on Its Platform

January 29, 2023
CFTC Wants More Jurisdiction Over the Crypto Space; Here’s What the Commission Has Been Up to
3 min read
  • Blockchain
  • Crypto Trading
  • Cryptocurrency
  • News
  • Regulation

CFTC Wants More Jurisdiction Over the Crypto Space; Here’s What the Commission Has Been Up to

January 29, 2023
Copyright © All rights reserved. | DarkNews by AF themes.
  • RelevantRelevant(REL)$0.825.35%
  • TadpoleTadpole(TAD)$7.32-1.74%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184213-2.11%
  • SakeTokenSakeToken(SAKE)$0.0127135.28%
  • WTF TokenWTF Token(WTF)$0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)$0.005461-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%