TerraUSD (UST) is a decentralized algorithmic stablecoin designed to maintain a value of 1 UST=$1 through a "mint/burn" mechanism. So what is the convert rate of UST to PHP and what is TerraClassicUSD. Let’s find out by reading the article below.
What is the convert rate of UST to PHP?
As of 14 Dec, 2022. the convert rate of 1 UST is equal to 1.18 PHP and 1000 UST is worth ₱1.184.52. The current circulating supply is 9.804.800.637.412 UST.
What is TerraClassicUSD?
The UST token has been renamed and is currently known as TerraClassicUSD (USTC). USTC is a decentralized stablecoin pegged to the US dollar and built on the Terra Classic blockchain. TerraUSD (UST) is a decentralized algorithmic stablecoin on the Terra blockchain. Its value is pegged 1:1 to the USD, making it an ideal medium of exchange on DeFi and TraFi platforms. With the rise of decentralized finance, stablecoins have gained traction both within and outside the digital asset industry.
I hope this article will help you to learn what is the convert rate of UST to PHP and what is TerraClassicUSD. Remember, before you invest in something, you need to do your own research and never invest more money than you can afford to lose, as prices can go down as well as up.
