Starting to see a little chatter about this, so just to quell it before it gets worse, Alameda hasn't been selling UST and doesn't have any particular plans to.
Not investment advice, etc. etc.
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1/6 One of the most disappointing things I've seen since I got into crypto last year is the incredible amount of vitriol between different communities. So many people hoping for protocols which will be mutually beneficial for the whole ecosystem to fail is sad
6/6 The Anchor yield will reduce eventually but UST will likely be the quote currency underpinning the whole Cosmos ecosystem. As it continues to prove its robustness Lindy Effects will come into play. Imo hoping for its failure is detrimental to the crypto ecosystem as a whole
@GCRClassic@SplitCapital Any promising projects you've come across so far in this space? I'm very bullish on this longer term but don't think anything meaningful has emerged so far
@FatManTerra Can anyone confirm that aUST used as collateral in Mirror Protocol will be included for the airdrop? Haven't found anything definitive about this yet
@mewn21 RIP... Man sometimes the lessons are tough. Never want to touch an algostable again. Let's be real I didn't care about the decentralisation just wanted the yield and I lost the inevitable game of chicken
@mewn21 Reasonable take but I've always thought this algostable market is a winner take most market. Very possible others could fail but one or two have enough adoption / backing / Lindy / usecases to thrive. (UST first mover advantage is huge imo)
@FatManTerra Hi mate. Thanks for all your efforts so far. Based on this tweet and excluding UST looks like they only have ~$85 - 90m left based on todays prices. Have to assume the UST is worthless right?
There's like no money left to reimburse...
https://t.co/djGE57auc8
8/ As of now, the Foundationโs remaining reserves consist of the following assets:
ยท 313 $BTC
ยท 39,914 $BNB
ยท 1,973,554 $AVAX
ยท 1,847,079,725 $UST
ยท 222,713,007 $LUNA (of which 221,021,746 is currently staked with validators)
@tushar_jain@toly@KyleSamani@UXDProtocol What happens if insurance fund is exhausted and funding is negative for a sustained period? That's the tail risk right?
@songadaymann Fee markers ARE coming to Solana, but to solve a different issue. Thereโs no competition for Blockspace but instead for a specific part of a contract eg a really hot NFT mint might spike itโs fees, but that spike wouldnโt increase fees for, say, a swap on serum
$84m fdv/$34m allocated tokens market cap. seems pretty light all things considering. love the process and giving a material amount of supply out in public sale, the best structured solana ido to date imo.
And of course with the continued growth of all of the smooth dapps built on Terra itself such as @astroport_fi@mars_protocol @ApolloDAO amongst many others
@ZeMariaMacedo says it best. Anyway can copy the mechanism but without native demand and utility an algostable is vulnerable long run. Yes as of today anchor is the main use case of UST but this will rapidly diversify as UST goes cross chain
@KyleSamani I don't think $UST's mechanism design is the USP but rather the products built around it and native demand for it
The former can be forked. The latter cannot