This content is provided for informational purposes only and discusses USTC and the possibility of returning it to a range close to 1 USD.

The presentation reflects an explanatory viewpoint and may indicate the author's interest in a particular approach, without any commitments, promises, or recommendations.

Any decision made based on the information presented here is the sole responsibility of the reader.

USTC was originally designed as an algorithmic stablecoin intended to maintain a value close to 1 USD without relying on traditional collateral, but instead on internal balancing mechanisms.

When these mechanisms collapsed and market confidence declined, the price moved outside its target range, and USTC ceased to function as a stablecoin.

To theoretically reach a price close to 1 USD with this level of supply, it would require a market capitalization in the billions of dollars, a significant reduction in supply through large-scale burn mechanisms, or a combination of both.

Despite multiple attempts and proposals to address the issue or restore the peg, these efforts faced fundamental challenges, most notably the oversized supply and the absence of sufficient backing.

As a result, restoring the peg through traditional methods is not considered realistic under current economic and market conditions.

Directly repairing USTC would require fundamental changes to the asset's structure, along with substantial guarantees and a broad restoration of market confidence.

Any attempt to force a direct re-peg without these prerequisites carries significant risk and could place additional pressure on the market.

A conversion-based path allows the system to address the current reality without imposing a forced re-peg or relying on uncertain assumptions.

Rather than attempting to fix USTC itself, the conversion approach redirects value through a more controlled and disciplined pathway.

This plan represents a gradual framework for addressing the current state of USTC, without attempting an immediate re-peg or unrealistic solutions.

USTR is used as a transitional asset to reorganize value flows without offering peg guarantees or price assurances.

The final objective is UST1, a new stablecoin issued gradually and conditionally based on explicit collateral and demand rules.

The system operates through a gradual value transition from USTC to USTR and ultimately to UST1.

The process is governed by the CMM (Collateral Market Maker), which regulates issuance, burning, and liquidity flows automatically.

UST1 issuance halts automatically if defined collateral or demand conditions are violated.

The conversion path is available during a fixed 100-day window beginning on January 22, 2026, at 13:00 UTC.

Conversion ratios begin at 1:1.5 and gradually increase to 1:2.5 over time.

After the window closes, the conversion mechanism is permanently disabled.

In preregistration, system contracts were deployed, USTR was distributed, and the following results were recorded.

A 10% incentive is provided through a referral mechanism to reduce early participation friction.

This incentive does not represent a return, guarantee, or investment reward.

To use the discount, enter the referral code analystmarkets or use the following link:

1. Hold USTC in a Terra Classic compatible wallet
2. Use the official conversion interface during the active window
3. Execute conversion according to published rules

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