2/2 However, it's insane to think UST regains peg, and LUNC burn crusade is a PR gimmick.
@Terra_Money 2.0 is a real project with dozens of active and funded developer teams, but $UST and $LUNC are pure memes.
Yet, if they do this in a bear, what happens when we flip bull?
1/2 As I said a few days ago, $UST is a better memecoin than $LUNC.
UST has a natural psychological price target of $1, whereas LUNC has no such magnetic target.
UST more fairly distributed, too. Over 50% of LUNC was minted in a 6 hour period during depeg; very concentrated.
17/ As a community, we said we would rise from the ashes. Tomorrow, one of the most decentralized and community-owned blockchains ever will launch as a result.
The Terra community just passed a vote to ‘Rebirth Terra Network’.
We are working closely with the Terra team on the recovery plan, aiming to provide impacted users on Binance with the best possible treatment. Stay tuned for further updates.
I was having a discussion about this, and it's a fascinating moral question. Do Kwon created a machine that would implode eventually if built up on a foundation of gross impropriety. The peg attacker kick-started the collapse and actively ruined lives, but sped up the process.
And just like that, Do Kwon killed a bunch of conspiracies that were making the rounds on the internet.
The corporate move was long-planned and the timing coincidentally aligned with the crash.
If you believe him, that is. I personally think I can believe him.