@BOMBERuss 22 October 2021 more from that month

The Terra blockchain protocol token is approaching historic highs as investors expect supply to shrink. The eleventh-ranked cryptocurrency has grown by almost 7% ahead of the token burning scheduled for next week. Proposal 44 involves the burning of 90 million LUNA tokens stored in the Terra community pool, which will allow the release of a native UST network stablecoin worth almost $4 billion. UST is an algorithmic stablecoin, respectively, the cost of its issue is equal to the nominal value of the coin. To issue UST, it is necessary to burn the equivalent value of the reserve asset of the Terra LUNA token. Terraform Labs CEO and co-founder Do Kwon tweeted in the morning that Proposition 44 would be supported, resulting in the burning of 90 million LUNA tokens, or about 10% of the total. Recently released UST as a result of incineration will be stored in the Ozone network insurance protocol. #Cryptocurrency