Terra is crumbling.

The blockchain project that houses popular algorithmic stablecoin TerraUSD (UST), which had recently become the fourth-largest stablecoin by market value but is now fifth, is on the verge of collapse as UST repeats its $1 Binding and LUNA, home of blockchain, not maintaining tokens, is approaching zero.

Terraform Labs, the tech start-up behind the development of Terra, stopped producing new blocks on the network on Thursday “to prevent governance attacks after severe $LUNA inflation and significantly reduced attack costs,” it said Twitter.



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