By now, everyone is well aware of what happened with the recent TerraLuna and TerraUSD debacle, which led to a sharp decline in Bitcoin’s price and pushed the market even further into the red. For those who don’t know though, TerraUSD had been almost exactly pegged to the dollar since its inception, but it crashed on May 9th, 2022. Its sister coin, LUNA, was worth over $80 per token at the beginning of May this year, but it was only worth a fraction of a cent as of May 18th.
Now, Tezro has come up with a new strategy through which USTC holders may exchange their tokens for TezroST, a token used primarily to buy various services and goods that is also backed by Tether. The exchange rate shall be $1 for every USTC token.
Time to move on
The aforementioned situation of the two Terra coins crashing led to a financial crisis within the crypto industry, with their demise having a domino effect on numerous other digital tokens and projects, wiping out billions of dollars from the market and resulting in insurmountable losses. Still, that was then and it is now time for the crypto market and community to move on and that is exactly the sort of mindset that Tezro aspires to as well.
Through the app, which users must download in order to use the new feature, USTC holders need only search for the TezroST icon. Upon clicking it, users will then find it a simple matter to exchange the USTC tokens for TezroST, which can be subsequently used to pay for and enjoy a wide variety of products and services that can be found in online stores via the Tezro Swift API.
Lastly, due to the volatile nature of the USTC tokens and the fact that TerraClassicUSD has officially lost its stablecoin status, Tezro supporters are being encouraged to use the new exchange feature as soon as possible so as to avoid any further unnecessary losses. Still, it is not a bad deal as by giving away the USTC tokens, the users receive TezroST which, unlike the Terra tokens, have actual value.
Understanding Tezro
Tezro is a multi-faceted platform and application which has an added function of being a crypto wallet. The app offers secure chat software with numerous services and features. Tezro AI also allows customers to invest both easily and efficiently in all kinds of different currencies found on Uniswap2 as well as Uniswap3.
Tezro also enables its users to send and receive messages, along with conducting transactions in both crypto and fiat regardless of physical location. Moreover, not only is Tezro the inaugural project of its kind that involves the mixing of virtual financial transactions with real-time digital communications, but it is also powered by third-generation blockchain technology and is readily supported by all Android, iOS and PC devices.
Check out Tezro’s official
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