Do Kwon 🌕

#Luna 🌕

[Do Kwon 🌕 @stablekwon]

1/ A third party audit of LFG and TFL's peg defense activity during May 2022 has been published:

[LFG | Luna Foundation Guard @LFG_org]

1/ Today, LFG releases the technical audit report conducted by JS Held, an experienced third-party auditing firm, providing full transparency into the trading, blockchain records, and efforts of LFG and TFL to defend the price of TerraUSD ($UST) between May 8th & May 12th, 2022.

[Do Kwon 🌕 @stablekwon]

@Zaman93024991 @AriDavidPaul @Chris_CDC @SBF_FTX Cool

[Do Kwon 🌕 @stablekwon]

@ZorroTicToc !

[Do Kwon 🌕 @stablekwon]

@4lex_4sh4w +1

[Do Kwon 🌕 @stablekwon]

@Panterra0x No

[gabriel shapiro @lex_node]

if you make your blockchain into a bundle of contracts with "constitutions" etc., govts/courts/law enforcement will treat them accordingly--immutability is not legal

cryptosystems are best treated as people opting out of a rights/duties regime into a powers/incentives regime

[Do Kwon 🌕 @stablekwon]

@__CarlSagan__ @CrescentHub Done

[Do Kwon 🌕 @stablekwon]

Cosmos chain core teams interested in Station integration pls send DM

[Do Kwon 🌕 @stablekwon]

@CosmosDefi Joe Kwon

[Do Kwon 🌕 @stablekwon]

@CBarraford @ZeMariaMacedo Ikr

[Cosmos Labs @cosmoslabs_io]

🎉 Announcing: Skip is now live on Terra2!

Fun fact! Skip was founded at a Terra hackerhouse in May.

This is not the *same* Terra, but we're thrilled to come full circle and bring Skip to the Terra2 validators and community 🚀

How to get started 👇

[Do Kwon 🌕 @stablekwon]

@Alekso962243961 @EvgenyGaevoy You’re right - i believed in my creation and donated billions of my own money to lfg to make it stronger in line with that confidence

I was wrong, but that doesnt make me a scammer

[Do Kwon 🌕 @stablekwon]

https://t.co/K2iAW2cUUb

[Do Kwon 🌕 @stablekwon]

@BoringSleuth @etherscan All btc buy clips for lfg was 125M increments in the beginning

And etherscan i dont even look at, all buys were through otc desks

In case this is news, there is also no evidence confirming existence of flying spaghetti monsters

[Zhu Su @zhusu]

There's this notion that "Luna would've failed anyway, if Alameda/FTX + affiliated parties used their clients' assets and positions to orchestrate an elaborate attack on it then who cares" in some pockets

This actually gets to a basic white hat vs black hat argument

[Do Kwon 🌕 @stablekwon]

@adamscochran @gabrielhaines @cewh1te @UnterseeS You’re right - there doesnt need to be just one lesson however

One can learn multiple things

[Do Kwon 🌕 @stablekwon]

@adamscochran @gabrielhaines @cewh1te @UnterseeS I think with UST, it presumed sources of stability (sticky demand, etc) within crypto that just isnt around yet

Out of the current solutions out there i think Frax has taken the most sane tradeoffs between scalability and collateral - curveUsd is interesting

[Do Kwon 🌕 @stablekwon]

@adamscochran @gabrielhaines @cewh1te @UnterseeS I think there are important lessons to take away! For example, if naked shorts were possible in excess of client deposits (or selling on behalf without permission), thats probably something users should demand safeguards from in the future

[Do Kwon 🌕 @stablekwon]

@gabrielhaines @cewh1te @UnterseeS We all collectively paid a heavy price over the last year, and i think making sure we take away the right lessons is important - this is the only way to make the future better rather than hamfisted responses that don’t really fix anything

[Do Kwon 🌕 @stablekwon]

@gabrielhaines @cewh1te @UnterseeS I want to point out this isn’t a blame game - ultimately ust was not robust enough to stand up to attack, but getting to truth is important so the community can *learn and internalize the knowledge*