Mint Cash: 🏛️♻️ A permissionless, price-stable payment and savings currency system powered by Bitcoin.
Hey fanatics, does anyone remember what Terra @terra_money is? It was one of the early “DeFi” algorithmic stablecoins with high ambitions but fell below its $1 peg from a TVL peak of nearly $20 billion.
Today, we're bringing Terra back from the grave. Why now? continue reading...
Yo degens, anyone remember what Terra was? It was one of the early “DeFi” algorithmic stablecoins with high ambitions, but lost its $1 peg from its peak at near $20B TVL.
Today we're bringing Terra back from the grave.
Why now? Read on ... 1/
https://twitter.com/wemintcash/status/1710379631227064470
2/ Terra envisioned a world where greedy banks are replaced by algorithms, creating a fair economic system that works for everyone. Anchor, the crown jewel of the Terra ecosystem, held more than $16B in TVL giving out 20% stable yields on deposits.
3/ Problem? They became too greedy, printing more and more coins from nothing to subsidize its yield reserves until everything collapsed to almost zero.
4/ In a strange world where almost all stablecoins are being held hostage by the old banking system, we need the original vision of Terra more than ever.
5/ That is why we are launching Mint Cash — what Terra envisioned themselves to become, before their greed ruined everything and karma came back to bite them.
6/ Unlike the original Terra, Mint Cash has no venture capital funding. It does not have a token sale, nor premined TerraSDR and Luna tokens to give out 20% interest. The only dump will be yours.
7/ Also unlike the original Terra, Mint Cash has zero room for greed and fraud. All Mint Cash stablecoins are designed to be backed by Bitcoin, the world's largest, value neutral and inflation-resistant digital currency.
8/ Mint Cash is built by a team of anonymous developers that do not fear regulators, on a mission to truly set money free; backed by Bitcoin, and built on the CosmosSDK — the interchain-ready modular blockchain framework.
9/ Follow @wemintcash , as well as our two developers @shinhyojin1031 and @minjaesheep , for updates from the Mint Cash team directly. https://mintca.sh
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