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Rooting for the failure of $UST is rooting for the failure of all stablecoins (and crypto).
Centralized stables where collateralization is not completely public and transparent such as $USDT (which btw what most of the crypto market is propped up on) could destroy everything.
ok here is how the $luna $ust attack was coordinated & executed. 🧵 (quoted from a friend)
- attacker OTC accumulated $1bn of UST
- borrowed $3bn in $btc
- spread around some fud about peg and bank runs
- dumped the fuck out of their $3bn $btc on market to trigger wider panic
With all the $UST drama I thought I'd tell you a story...
You see, everyone knows the story of the Bank of England vs Soros. BOE lost, Soros won but people forget the HKMA vs the hedge funds in 1998...
An $18 billion stablecoin is losing its dollar peg with all the magical chaos of algorithmic stables, with a dash of Bitcoin systemic risk drama.
Here's everything you need to know.
The $UST Depeg Thread:
👇
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Terra $LUNA Ecosystem List! 📈
@terra_money is rapidly expanding! Here is a list to help you guys keep track. Hope it helps! 🌖
(comment below if I missed any) 🧵👇
I invest in early stage projects and hold for 6-18 months (barring any macro market shift down).
Yes $WOO is targeting DeFi volume, but when Amazon started they targeted books. At scale, $WOO will consume deep liquidity through CEX’s and Dark Pools.
Long tail thesis.
$QRDO giveaway and airdrop! 💸
Around $50,000 in $QRDO is getting dropped to $WOO X stakers
We're also giving away $1000 shared $QRDO for 10 winners on Twitter, here’s how to win:
1. Just follow @WOOnetwork and @QredoNetwork
2. Retweet this tweet
https://t.co/yWIFWSvaQi