Mhairi
March 3, 2022, 11:16am
1
This UMIP will add TerraUSD (UST) as approved collateral currencies. This will involve adding the currencies to the whitelist and adding a flat final fee to charge per-request. The proposed final fee is 400 UST per request.
| UMIP-94 | |
|------------|------------------------------------------------------------------------------------------------------------------------------------------|
| UMIP Title | Add UST as a whitelisted collateral currency |
| Authors | Pascal Tallarida (pascal@jarvis.network) |
| Status | Approved |
| Created | 09/05/2021
| Discourse link | https://discourse.uma.xyz/t/add-ust-as-approved-collateral/1059 |
## Summary
This UMIP will add TerraUSD (UST) as approved collateral currencies. This will involve adding the currencies to the whitelist and adding a flat final fee to charge per-request. The proposed final fee is 400 UST per request.
## Motivation
UST is a decentralized algorithmic stablecoin pegged to the US dollar, issued on the Terra blockchain and wrapped onto various Blockchain.
UST has been launched in September 2020, following the success of TerraKRW (KRT), a stablecoin pegged to the Korean Won (KRW). Since launch, UST became the 5th largest stablecoin, right behdind DAI, with a $2 Bn market capitalisation. $360M of UST are currently circulating on the Ethereum Blockchain.
Unlike other algorithmic stablecoin, UST has been incredibly stable.
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