@icanhasgains@simonch00@terra_money has a lot of systems designed to protect $UST inside the ecosystem. There is nothing to protect $UST outside the ecosystem. @TeamKujira , @WhiteWhaleTerra, @anchor_protocol needs to deploy on all protocols supporting $UST. It will make $UST resistant to this attack
May 2021
$BTC flash crash to 28k
$LUNA crash from 35 to 5
$UST de-pegs from 1 to 0.85
May 2022
$BTC flash crash to 29k
$Luna Crash from 105 to 25
$UST de-pegs from 1 to 0.70
Volatility will always be there when you aim to decentralize.
$UST must survive this period, if it doesn't it was not resilient enough
#BTC must survive all the regulations, ESG talks, and so on, if it doesn't it was not resilient enough
These stress tests are healthy & needed, make no mistake
1/4 @Terra_Money is the most audacious project since Bitcoin.
Bitcoin tried to create a store of value backed by nothing but confidence. It worked.
Now Terra is trying to create a stable medium of exchange backed by nothing but confidence. It will work.
This is a historic moment for Terra. The peg will be restored, it's just a matter of time, and trust will be restored as investors see the builders making the necessary changes that were brought into the spotlight during this crises.
@nikcho @WhiteWhaleTerra @Cephii1 I am right there with you. You built up once, you can do it again. I let myself feel bad about my negative balance for 5 min, now I am grinding. lol
@Jonathan_Munan We should have been here from the start to make a decentralized system, and make money while doing it. @terra_money had a weakness exposed, liquidity manipulation. This has killed trust in the project. If we believe in the core principals than man up and help the team fix it.
@Jonathan_Munan Started off strong, but pivoted to BTC through GLXY and ARKK (which is down hard)? It sounds like you just told me to run from $luna and become a $BTC maxi.
@t1gj8hpys@CryptoHarry_ Terrascope appears to get it's price outside of the Terra ecosystem. @WhiteWhaleTerra is keeping the peg inside the ecosystem. If only there was a way to arb binance I would make a killing