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Stablecoins are crypto-assets that are designed to maintain a stable market price, usually pegged to a fiat asset like the US dollar. Terra, or UST, is one of such stablecoins, and we’ll dive deeper into how it works later. The Terra-Luna crash in May 2022 was a result of the stablecoin TerraUSD (UST) losing its peg to the. UST is an algorithmic stablecoin, using a series of smart contracts to maintain its value.