In A Turbulent Market, UST Growth Continues

UST has been establishing itself as an emerging leader in stablecoins, solidifying the token in the third-place position behind USDT and USDC, and the leader in decentralized stablecoins. A new report from Delphi Digital demonstrates that some of the latest news and developments in the Terra ecosystem are leading to substantial growth in UST adoption – including the new Mars Protocol and Terra’s new ‘LFG’ formation. UST And The Latest Catalysts A quick briefing: UST is Terra Luna’s native stablecoin, a decentralized algorithmic stablecoin that has been emerging throughout the past year. With the minting of new UST, a dollar equivalent of LUNA is burned. Recent weeks have brought substantial growth to UST supply, spurred by a number of new tools available in the Terra ecosystem, and accordingly LUNA burning has increased substantially as well. Delphi cites two major drivers: the creation of the Luna Foundation Guard (or LFG) and a new lockdrop from emerging Terra tool Mars Protocol. The lockdrop will, of course, lead to more locked UST, and the formation of the Luna Foundation Guard resulted in a $450M Luna burn mechanic. UST growth continues and Luna burning has increased this month. | Chart provided by Delphi Digital. According to routine bot tool @USTmarketcap, the current market cap of UST has surpassed $12B this month and is rapidly approaching $13B. And according to Delphi, UST growth is...