Terraform Labs stated that UST, Terra’s ill-fated “decentralized” stablecoin, would keep pegged to the worth of $1 solely on account of a state-of-the-art “algorithm.” That algorithm – which was codified in blockchain-based pc code known as good contracts – was imagined to print and burn Luna, UST’s speculative sister token, to function a type of shock absorber for UST’s value.
