How does Luna & Ust work?

However, in the case of LUNA and UST, it works slightly differently. In the Terra ecosystem, users can always swap the LUNA token for UST, and vice versa, at a guaranteed price of $1 – regardless of the market price of either token at the time.

Does CoinDesk maintain Luna & Ust?

CoinDesk is maintaining the content for historical purposes but please note that both LUNA (now known as LUNA Classic or LUNC) and UST, the former stablecoin linked to LUNA, have collapsed and do not function as described below.

What if you lost money in the Luna/Ust crash?

If you or someone you know lost money in the LUNA / UST crash, know that life is always worth living. If you somehow don’t already know, terraUSD (UST), a cryptocurrency that is supposed to stay at $1 (aka a stablecoin), is no longer $1. When something is supposed to be $1 and it’s not, that’s usually not good.

What is a Luna token?

Luna tokens are Terra's way of keeping its stablecoin prices where they should be. It incentivizes trading between Luna and stablecoins when it needs to increase or reduce the stablecoin supply. Here's a hypothetical example -- UST, Terra's U.S. dollar stablecoin, is in demand. That has raised the price to $1.05 when it should be $1.