In November 2021, the cryptocurrency market experienced a significant shockwave following the collapse of Luna and UST, resulting in substantial losses for investors and traders. What happened? The collapse was mainly attributed to a sharp decline in the value of Luna, the native token of the Terra blockchain, which is used as collateral to mint the stablecoin UST (TerraUSD). As Luna's value dropped, its ability to maintain UST's peg to the US Dollar was compromised, causing UST to ...