#Luna needs to use its $btc reserves to buy back $UST and re-peg it. But where is all that #bitcoin? Unfortunately as much as I once supported the terra ecosystem, the whole thing seems screwed.
$UST's collapse is the biggest threat to crypto right now. It has massive ramifications across the entire industry.
Is this the end of $UST and $LUNA? Or simply a blip on the radar?
🧵: A thread on the $UST de peg and what it means for crypto. 👇
1. New Burn Pool Announcement! 🔥
As many of you know, we were recently awarded $500k UST with the passing of our proposal on the @terra_money governance protocol. Following this amazing news, we are excited to announce that our newest Burn Pool will soon open for deposits!
We are excited to announce the passing of our Proposal 971 for $500k of UST rewards to help build the UST presence on @0xPolygon. As detailed in the proposal, our plan is to issue the $500k of UST rewards over 5 months to stakers on @GREENHOUSEDEX .
Come farm today!
How to quickly spot a scam:
One of my dear followers reached out after going through my whale watching substack. As I mentioned in my post, you HAVE to be very careful because scammers send these known addresses tokens.
1) The Greenhouse Proposal to Bootstrap Wormhole UST Liquidity is live on Agora @terra_money@stablekwon@0xPolygon
https://t.co/BVim8X92xN
$GREEN is seeking 500,000 $UST to be utilized for liquidity mining initiatives to build UST presence on Polygon for the next 5 months
We're about to go live with @GhostFestGame to show off the launch of Phantasma's first mobile game! Rumor has it a phantasmic surprise will be revealed in game to attendees!
Watch now --> https://t.co/wl0zWqls5n
Never invest in a project without:
• Reading the whitepaper
• Reviewing the tokenomics
• Understanding its purpose (what problem does it aim to solve?)
• Vetting the team (do they have a track record?, are they doxxed? etc.)
A bit of research makes a big difference.