Event record
Record sog_ev_ust_2022_05_collapse
TerraUSD collapse
UST lost its US dollar peg during the Terra and LUNA crisis in May 2022 and did not return as a functioning stablecoin. USTC continued trading afterward, but the original peg and redemption function did not recover.
- Date
- 2022-05-09
- Category
- Failure and collapse
- Subtype
- Collapse
- Status effect
- Collapsed or failed
- Recovery
- CollapsedNot yet recorded
- Evidence
- 3 source records3 relations
Identity and classification
Overview
Date, taxonomy, impact, recovery, mechanism, confidence, and evidence remain separate.| Date | 2022-05-09 |
|---|---|
| Public event category | Failure and collapse |
| Canonical event subtype | Collapse |
| Structured detail kind | Depeg |
| Stablecoin subjects | TerraUSD |
| Organization subjects | Terraform Labs |
| Impact | Critical |
| Effect on stablecoin lifecycle | Collapsed or failed |
| Canonical status-effect value | Failed |
| Recovery or reversal | Collapsed |
| Recovery date | Not yet recorded |
| Cause or mechanism | Algorithmic stablecoin collapse and reflexive Terra/LUNA crisis. |
| Structured detail coverage | Structured fields available below |
| Record confidence | Medium |
- Date
- 2022-05-09
- Public category
- Failure and collapse
- Canonical subtype
- Collapse
- Structured detail kind
- Depeg
- Impact
- Critical
- Status effect
- Collapsed or failed
- Recovery
- Collapsed
- Recovery date
- Not yet recorded
- Cause or mechanism
- Algorithmic stablecoin collapse and reflexive Terra/LUNA crisis.
- Record confidence
- Medium
Affected records
Subjects
Stablecoin and organization subjects remain separate record groups.TerraUSD
Open the stablecoin dossier for current state, organizations, deployments, evidence, and unknowns.
Terraform Labs
Open the organization record for roles, relationships, events, evidence, and unknowns.
Typed record
Structured detail
Event-type-specific facts remain visible with explicit value states.| Depeg detail — Recovery status | Collapsed |
|---|---|
| Depeg detail — Recovery date | Not yet recorded |
| Depeg detail — Cause summary | Algorithmic stablecoin collapse and reflexive Terra/LUNA crisis. |
| Depeg detail — Price-source records | Not yet recorded |
- Depeg detail — Recovery status
- Collapsed
- Depeg detail — Recovery date
- Not yet recorded
- Depeg detail — Cause summary
- Algorithmic stablecoin collapse and reflexive Terra/LUNA crisis.
- Depeg detail — Price-source records
- Not yet recorded
Provenance
Evidence
Source identity, publisher, publication date, reliability, archive, and relation count remain separate.| Source | Publisher | Source category | Provenance | Primary or secondary | Supported claims | Archive | Reliability |
|---|---|---|---|---|---|---|---|
| SEC charges Terraform Labs and Do Kwon with fraud Published 2023-02-16 | U.S. SEC | Regulatory or court record Canonical: Regulatory Source | Government, regulator, or legal source | Primary source | Regulatory Context, Post Collapse Regulatory Context | Direct archived snapshot | High |
| Anatomy of a Stablecoin's failure: the Terra-Luna case Published 2022-07-28 | arXiv | Research or security report Canonical: Research Paper | Independent third-party source | Secondary source | Collapse Analysis | No archive recorded | Medium |
| Emergency Management and Recovery of Luna Classic Published 2022-07-04 | arXiv | Research or security report Canonical: Research Paper | Independent third-party source | Secondary source | Post Collapse Lifecycle | No archive recorded | Medium |
SEC charges Terraform Labs and Do Kwon with fraud
- Publisher
- U.S. SEC
- Published
- 2023-02-16
- Reliability
- High
- Relations
- 1
Anatomy of a Stablecoin's failure: the Terra-Luna case
- Publisher
- arXiv
- Published
- 2022-07-28
- Reliability
- Medium
- Relations
- 1
Emergency Management and Recovery of Luna Classic
- Publisher
- arXiv
- Published
- 2022-07-04
- Reliability
- Medium
- Relations
- 1
Maintenance