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Terra to burn 1B UST from the community pool as holders vote for it

2022.05.27 14:11

Terra to burn 1B UST from the community pool as holders vote for it
Terra to burn 1B UST from the community pool as holders vote for it

In another attempt to support the revival of Terra (LUNA), the community voted to burn a large amount of UST from its community pool.

Earlier in May, Terra founder Do Kwon explained that a potential solution to the Terra debacle is to absorb the stablecoin supply. In response to this, users proposed the burning of the 1 billion TerraUSD (UST) that was stored in Terra’s community pool and the remaining cross-chain UST that’s deployed on the Ethereum blockchain as incentives.

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