Grecko.eth

Crypto ergo sum.

[Grecko.eth @GreckoCrypto]

@hodl4_joy @larry0x Thanks! For larger amounts though, that isn't a full 1:1 burn/mint. If this is the official way to burn/mint and it can't handle big volumes, how can it handle volatility when UST un-pegs?

[Grecko.eth @GreckoCrypto]

@larry0x Where can a retail investor like you and me burn 1 $UST for $1 wort of $LUNA? Trying to understand where this is possible as it's the key assumption for the whole arbitrage system to work effeciently.

[Grecko.eth @GreckoCrypto]

@algo_tune @aaualgotune @anchor_protocol @terra_money Ok! I really assumed somewhere there was a real 1:1 burn/mint possible always - clearly you can't get out of UST to Luna as they advertise as easily then? Guess it will cause a huge shitshow when it starts depegging. How do you hedge against Luna crashing?

[Grecko.eth @GreckoCrypto]

@aaualgotune @algo_tune @anchor_protocol @terra_money Thanks! And what would be the user interface for that on-chain redemption? Is that the same pool as the Luna/UST pair on Terraswap?

[Grecko.eth @GreckoCrypto]

@algo_tune @anchor_protocol @terra_money So if I understand right, whenever Terra says a $1 worth of Luna can always be burned to 1 UST and vice versa, actually what they mean you have to swap it in a liquidity pool which charges a fee and has slippage? That sounds way less attractive than a real 1:1 conversion no?

[Grecko.eth @GreckoCrypto]

@algo_tune @anchor_protocol @terra_money As in: off-chain exchanges and AMMs will presumable not give me the promised 1 UST = $1 worth in Luna ratio in case shit hits the fan, but the 'official' swap mechanism should. So where do I go in that case to get that 1:1 swap?

[Grecko.eth @GreckoCrypto]

@algo_tune @anchor_protocol @terra_money Got it. Only thing I still struggle to understand is what is the 'official' swap provider of the burning/minting? Is that Terraswap?

[Grecko.eth @GreckoCrypto]

Best write-up I've read so far on Anchor and Luna. 20% APY comes with it's risks...

[Grecko.eth @GreckoCrypto]

@WestieCapital Awesome read. Read it on your site and came here to thank you!

[Grecko.eth @GreckoCrypto]

@Route2FI Been in crypto for 10 years, but just started with Twitter. Follow me and you’ll learn about my ride.

[Grecko.eth @GreckoCrypto]

@0xHamz @Thuxo_Lux The problem is that market cap at any point in time is (tokens outstanding * price per token). The depth of that liquidity is much less than that though and in the case of a negative spiral, it will largely evaporate. So your 45% metric looks safe but it conceals huge risk.