Tezro has launched a swap feature for USTC holders to purchase goods online.
Tezro, an all-in-one multi-cryptocurrency wallet and secured messaging app, has launched a new use case for Terra UST Classic (USTC) holders. According to a recent announcement, holders of USTC can swap the Terra classic stablecoin for TezroST.
TezroST is the official shopping token of Tezro, and it is fully backed by Tether (USDT). USTC holders can exchange the collapsed stablecoin for TezroST at an exchange rate of $1 per token, the announcement reads.
The swap can be done on Tezro’s website and Android app only, with USTC holders entitled to the same exchange rate. Users will be entitled to win the sum of $100,000 when they swap USTC for TezroST. Additionally, USTC holders can use the swapped TezroST to purchase limited NFT Tezro T-shirts.
Before using the service, users must download the Tezro application on their Android or iOS devices and click on the TezroST icon. The swap will be made in a few clicks, and users can use the swapped tokens to pay for goods and services in selected online stores via the Tezro payment gateway.
You can swap your #USTC for Tezro Shopping Token (TezroST) following this:
1. Top up your wallet with USTC
2. Swap USTC for TezroST coin.
3. 1 USTC is equal to 1 TezroST, which equals 1 USDT.
4. Spend coins in our store or with our partners
You can do it right now on iOS pic.twitter.com/ZJ4qJ0Cfpf
— TEZRO (@TezroApp) August 17, 2022
Another Compensation Plan for Terra Victims
The initiative is rolled out as part of an effort to compensate victims of the Terra ecosystem collapse. Recall that after the collapse of Terra, the value of the cryptocurrency dipped massively, plunging many investors into heavy losses.
Many cryptocurrency exchanges were forced to delist USTC due to the enormous risk associated with digital currency. With many Terra investors left in the cold win, Tezro allows affected investors to get good value for their USTC tokens.
“Tezro wants its supporters to know that it cares about them, and that is why the new feature of being able to exchange USTC tokens for TezroST is significant. Not only does it allow USTC holders to get rid of the tokens, but it also enables them to do so in a beneficial manner,” Tezro added.