According to BlockBeats news, on November 27, the price of USTC rose sharply within 24 hours due to the expected impact of the recent airdrop of Mint Cash, a new stablecoin project in the Terra ecosystem. Mint Cash project leader Shin Hyojin responded to market concerns and clarified the airdrop plan for USTC holders. Participants need to lock USTC on the Terra Classic chain to participate in the airdrop, and Mint Cash will be airdropped at a rate of US$1 per USTC equivalent, providing holders with a discount of up to 99%. As more people participate in the airdrop, Mint Cash plans to destroy all collected USTC, effectively reducing market circulation. Shin Hyojin emphasized that even USTC holders who did not participate in the airdrop will benefit from it. Currently, USTC’s market price is $0.04125636, up 157.74% in 24 hours.

The Mint Cash project aims to create a new stablecoin ecosystem based on Bitcoin, combining the advantages of the Terra ecosystem and the decentralized characteristics of Bitcoin to provide stable and efficient payment and savings solutions. Through an innovative synthetic exchange mechanism, the project not only maintains the stability of purchasing power, but also provides benefits to cash holders, while promoting the development of decentralized finance (DeFi).