Terra Classic USD (USTC) is an algorithmic stablecoin created on the Terra blockchain to maintain a 1:1 peg with the US dollar without traditional collateral. Launched by Terraform Labs in 2018, USTC gained significant popularity during the decentralized finance (DeFi) boom, offering users a scalable and decentralized alternative to fiat-backed stablecoins. Its stability relied on an algorithmic relationship with Terra’s native token, LUNA. However, in May 2022, USTC lost its dollar peg, leading to a massive collapse and market turmoil. Despite this, USTC remains actively traded, with ongoing community efforts aimed at reviving its value and utility.