UST Depeg Following

Jun 08,2022
Terra Ecological Dao Management Platform Packs Has Been Launched Terra 2.0 KingData News: Terra ecological DAO management platform Packs has launched Terra 2.0, which supports users to create DAOs with multi-signature, manage LUNA funds and make joint decisions.
This indicator provides follow-up on the depg of Terra's stablecoin UST on May 8th. Terra's stablecoin UST briefly lost its peg to the U.S. dollar on May 8th, dipping as low as $0.985. The depeg event came after a series of multi-million dollar UST selloffs as one account traded about $85 million worth of UST for USDC on Curve Finance, while another user reportedly sold $108 million worth on Binance. UST posted a slight recovery shortly after Terraform Labs CEO Do Kwon posted a tweet calling out the stablecoin's critics.