Mint Cash UST 2.0 Confirmed To Have No Terraform Labs Investment
Central issues:
- Terraform Labs, the blockchain organization behind Land, authoritatively expressed its non-association in the stablecoin project Mint Money UST 2.0.
- Mint Money’s objective isn’t to reestablish USTC to $1 yet to start new activities, with client valuations impacting USTC’s ongoing cost assumptions.
- Binance has reported the send off of a USTC never-ending agreement presenting to 50x influence.
Terraform Labs, the blockchain organization behind Land, has authoritatively affirmed it isn’t putting resources into the stablecoin project Mint Money UST 2.0, as reported on the X stage.
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Terraform Labs Distances Itself from Mint Cash UST 2.0
Answering rapidly to the expected airdrop of Mint Money UST 2.0, Land’s new stablecoin project, USTC, explained its situation. USTC, a BTC-collateralized stablecoin framework, is based on the first Land Exemplary codebase.
As opposed to assumptions for reestablishing USTC to $1, Mint Money’s essential objective is to start new undertakings. Basically, the valuation assumptions for clients for these tasks decide the ongoing value assumptions for USTC.
Land, once a blockchain monster in 2021 with the generally utilized LUNA token and stablecoin UST, faces a critical mishap with the breakdown of its billion-dollar realm and legitimate activities against Do Kwon. This prompted the rise of two separate chains, Land 2.0 and Land Exemplary.
In an amazing move, Binance, the world’s biggest crypto trade, has reported the send off of a USTC ceaseless agreement, presenting to 50x influence after careful survey.