Some interesting data on $UST and Terra's Anchor Protocol:
- There are 256K Anchor wallets
- The top 1000 Anchor wallets own 82% of all UST
- The poorest wallet in this top 1000 has 955K UST
This is great news for $UST / Anchor depositors.
Why? Let me explain..
1/
@dooggo @fturriaf @Jenghan7 @stablekwon It’s unfortunately the same principle.
Cryptocurrencies are extremely volatile assets , due to sheer speculation, anyrhing could happen to the price of a given crypto
I’ve survived the $ETH drawdown from $1500 to $80, $LUNA May ‘21 drawdown from $20 to $3 and now this latest one, which happened to be the first time I was liquidated
This space is all about mental fortitude. That sinking feeling in your stomach builds character
Survive
ok here is how the $luna $ust attack was coordinated & executed. 🧵 (quoted from a friend)
- attacker OTC accumulated $1bn of UST
- borrowed $3bn in $btc
- spread around some fud about peg and bank runs
- dumped the fuck out of their $3bn $btc on market to trigger wider panic
@sillyETHBeras @RancioLuchito @LukeDashjr@OrwellNGoode >so getting paid for “what you deserve” isnt applicable to the real life as companies are the true determinants of who/what is a deserved wage- and many opt to minimise labour costs and maximise labour productivity -
Hence much of the world’s wage growth has been stagnant
@sillyETHBeras @RancioLuchito @LukeDashjr@OrwellNGoode Theory of traditional economics doesn’t really apply to the real world - the imperfect market conditions has created an endless supply of labour and different barriers to entry- so wages have been a company-based “non-negotiable” approach
1/ It’s happening – $sAVAX is now live as a new collateral option on Anchor!
You can now borrow $UST via @wormholecrypto with $AVAX as collateral through the xAnchor implementation of Anchor on @avalancheavax