$LUNC Information about USTC

USTC is supposed to be an algorithmic stablecoin issued by Terra, and it has gone through a lot; it was formerly known by the symbol UST, hence the name "UST 1.0". Sounds familiar, right?

For those who have been in the cryptocurrency world for a long time, it's hard for them to forget the tough May 2022, during which the UST and LUNA collapse happened. After the fall, the LUNA brand was rebranded and moved to a new blockchain, and TerraUSD (UST) got a new name, which is Terra Classic USD (USTC).

So, what is the connection between Mint Cash and USTC?

Simply put, this new project seems like an attempt to help users who suffered losses resulting from the dramatic collapse of Terra. There are two ways for individuals to participate in the Mint Cash program:

If you owned UST or LUNA before the collapse on May 10

then you can lock and burn specific amounts of USTC using the free distribution contract from Mint Cash.

And here comes the interesting part. According to a post by the head of the Mint Cash project, Shane Huajin, he mentioned that the free distributions will be at a rate of 1 USTC = 1 USD. Users can do this by locking their USTC coins using the free distribution contract published on Terra Classic to receive the free distribution.

$LUNC