One of the most exciting projects I have found in the DeFi environment is Terra ($Luna). This project has real day-to-day applications, and its technology is being used by more than 60,000 daily users and has a total of 2.5M users in South Korea.

“The government wants to fool its people by doubling the minimum wage but at the same time printing more than enough money into circulation. We can’t solve problems by creating more problem for generations to come which is why Bitcoin and some other decentralized finance applications powered by blockchain technology looks to be our only hope of creating a better future.” — Olawale Daniel

Anyone who believes in the future of stablecoins should understand how this project works.

Most stablecoins are centralized (USDC, USDT, etc.). However, the stablecoin backed by Terra (Luna) is called USD Terra (UST). It has an algorithm whereby more UST is demanded. The more Luna is burned as collateral. Making the price of the…