I respectfully disagree.
The old guard wants to hoard power, we want to let go
DeFi has taught us that the less you own, the more you have - decentralization should always be the north star ⭐️
People who bought $LUNA the first time I booked Do to come on my show in July would be up 800%
People who bought in February when I asked
@novogratz about Galaxy Digital's $25 million investment in LUNA would be up 1,000%
8/X
Terra's simple starting point is that its stablecoin is not backed by cash or assets at all. Instead it's backed by its own cryptocurrency.
People can convert $LUNA into $UST and vice-versa. While Luna's price fluctuates, UST remains priced at $1 3/X
https://t.co/Ij2BkHmJQ3
A "DeFi dollar" has been the elusive holy grail of crypto. How do you make a stablecoin stay at $1?
The largest stablecoins (Tether and USDC) are backed by cash. But what if regulators seize those accounts? What if a company lies about its holdings? 2/X