On 13th May '22, the whole crypto world was shocked at the collapse of $LUNA.
I never actually owned any as I'd always stuck with the BTC/ETH blockchains & Terra just never interested me.
It sickens me, even now, to think of the fortunes, homes & pensions lost in the collapse.
I had a hunch. What IF it recovered?
What IF someone stepped in & repaired the freefall.
So I checked the contract on Etherscan for the wrapped version that Coinbase were offering me for sale (I am familiar with ETH blockchain & trust(ed) Coinbase Exchange as a long-standing client of theirs) & could see that the $wLUNA contract says it's wrapped $LUNA.
Fact: Smart contracts, once published, are immutable. So, the wrapped version would always unwrap to the custodial token, LUNA. I took a chance and bought millions of them. This was way before the mention of Do Kwon introducing another version. I know that the contract under which I bought my #wLLUNA is still unchanged. I also know that any change of contract in any way meant a new contract would have been published & the original tokens would have been migrated over. This has never happened.
This shouldn’t be controversial. This is Smart Contract carrying out what they are designed to do as to avoid human manipulation.
The silence. The lies. The deception.
Any wrapped token currently available on the ETH blockchain is as vulnerable to deceit as wLUNA.
Shame on you all.
Crypto is at such a critical moment of mainstream adoption with all of the spot ETFs and countries saying it's legal currency. To not address and fix $wLUNA is insane. If left unfixed it shows a massive flaw and ruins trust.
Btw Geth, this didn't show in 'latest' 🤐
--- $wLUNA Outcomes ---
1. Wrapped LUNA = $LUNC
- Anyone can write code to go around #smartcontract details. #ERC20 contracts are meaningless.
2. Wrapped LUNA = $LUNA
- Contracts are happy and safe.
...this isn't hard to figure out which it should be.
#LUNCcommunity#LUNA
@Franchise9494@ParrotCapital $wLuna holders made an early stage investment & @brian_armstrong & @stablekwon screwed us over and locked down our money & created a smoke screen coin to manipulate “immutable smart contracts “ if they don’t make things right then all S. C. &,Erc-20 fraudulent
Harder than I thought to repost everything on mobile. Every repost takes me back to the top and then have to start the hunt through past posts / reposts again. So many older reposts where my like is gone. It's worthwhile to refill the feed after they scrub it. 🫡
$wLUNA #wLUNA