When the value of the terra stablecoin started to plummet last month, things looked grim for the crypto market. Artists Brian Moore, Mike Lacher and Chris Baker decided to create a stablecoin whose value would never waver. The three of them, who are collectively known as Mossy, created a stablecoin pegged to AriZona Iced Tea, the sugary beverage that has famously cost $1 for years. “We have the most stable thing on the planet right in front of us,” Moore said.
All 1,000 of the tokens, known as USDTea, sold out in 90 minutes.
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