1/ Once upon a time, someone came along, let's call him Do.. and he said "Let me start a new country". I shall call it #TERRA because my country will have digital land
And he did.
2/ But like any country, Do needed a currency. Since the whole world (off chain) used USD, he said. Let me make my own currency, #UST. It will be worth 1:1 to USD and therefore he pegged to this currency and #UST was born