Following the Great UST Collapse, a Defi Project Plans to Launch a 'Soft-Pegged Stablecoin' Built on Terra
Following the Terra stablecoin collapse last May, the Terra blockchain ecosystem has another stablecoin concept in the works called “Solid.” The stablecoin Solid and its white paper were revealed by a decentralized finance (defi) project, Capapult Finance, and the idea has been dubbed a “soft-pegged stablecoin” built on Terra. Terra Blockchain Ecosystem to See a New Stablecoin Called Solid Roughly five months ago, the crypto community experienced some dark days when the stablecoin terrausd (UST), now called terraclassicusd (USTC), depegged from its $1 parity. Today, USTC is changing hands for $0.03 per unit and the obliterated Terra blockchain ecosystem moved to a new network called the Phoenix blockchain. With the Terra 2.0 network launch, the crypto community was introduced to a new native crypto called terra (LUNA) 2.0. Following the stablecoin depegging incident, which wreaked havoc across the entire crypto economy, a defi project called Capapult Fina...
