Pangolin, Avalanche's blockchain-powered decentralized cryptocurrency exchange, announced Terra (UST) as the platform's flagship stablecoin.

We now set @terra_money’s $UST to be the default stablecoin on DEX.

If you are logged in, you will now use $UST by default.

Notably, in late January, Pangolin launched the "Avalanche Rush" incentive program to help users win over $2 million in AVAX bonuses on liquid deposits in UST-AVAX and UST-USDC pairs.

The move underscores the project's commitment to supporting decentralized stablecoins. Based on the latest announcement on Twitter on Friday.

UST is a stablecoin launched in September 2020 with a current market cap of $11.2 billion. and has become the world's number one decentralized stablecoin. After recently surpassing DAI, the

The overall market cap of UST is currently 50% relative to Luna, and the price and stability of USDT depends on the performance of Terra (LUNA).

However, it seems that not everyone likes the stablecoin UST, as MakerDAO founder Rune Christensen previously denounced UST as a "punch in the gut", saying that Terra's ecosystem would collapse and be destroyed. Back to the downtrend

Source: u.today