Terra Classic Community Votes to Halt USTC Minting to Restore Dollar Peg

Terra Classic community votes to stop minting and reminting USTC tokens
Aims to restore USTC's peg to the US dollar after May 2022 depegging
Voting results were 59% in favor, 40% opposed to halting USTC minting
Proposal opens door for exchanges like Binance to burn USTC tokens
Comes after Terra community votes to raise minimum LUNC deposit amount

cointelegraph.com

Relevant topic timeline:

8/26/2023

LUNC News: Terra Luna Classic Revotes On Crucial Proposal By USTC Repeg Team

The Terra Luna Classic community is revoting on a proposal to fund the USTC Quant team after the initial vote failed to meet the required votes, with the resubmission attributed to the Terra Station wallet issues.