We are seeing all over the news that UST broke its peg and along with that Terra (LUNA) shaving off half its value overnight. At the time of writing, Luna is still down by almost 47% spurring a sell-off for many other coins including Bitcoin and Ethereum. What exactly is UST and what’s the big deal about it “breaking” its peg? Heck what on Earth is peg anyway? In this article, I’ll be covering this whole saga as best as I can with NO technical jargons or overcomplicated phrases. Some details may be lost as I attempt to break down some very complicated ideas but do understand that the objective of this article is to give the average reader a borderline understanding of what’s happening. What on earth is a PEG? In the crypto world, when we say that “UST is pegged to the dollar”, in its most basic understanding it means that 1 UST should always be worth $1....