Honestly, I would never trust again. Terra has failed and they are currently selling large amounts of BTC to fix the issues.
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Honestly, I would never trust again. Terra has failed and they are currently selling large amounts of BTC to fix the issues.
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Me neither. I am already slightly skeptical of algorithmic stablecoins and UST seemed to fail the test. Of course we have know way to know if it really failed since they cut the test short randomly. They should put intervention into the algorithm and stick with that if they want to rescue.
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As far as I can see, they are selling Bitcoin to save TerraUSD. I think this will cause bigger problems in the future. Terra's algorithm is worse than I expected.
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It is a shame. They just bought it :-0
Yes it is not good.
I wonder if there is some foul play there. People who don't like terra may be helping push it down. Still the algorithm should be better than that on a coin worth billions.
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In a few days everything will become clearer. And I wonder what's going on. I hope they have a good explanation.
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Things are slowly getting clearer.
Not sure they have a good explanation for why exactly what people warned would happen happened.
:-0
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I think they are hiding some things, but in time they will become clear. It's better to have a roadmap than none. Now we will wait and see the developments.
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We have to remember that LUNA itself is a victim, not the perpetrator. The problem was its associated stablecoin, TerraUSD (UST). Any cryptocurrency which has an associated stablecoin could suffer the same fate if protections and safeguards aren't included in their algorithms. We have more protections than most; our problem was just a lousy peg which seems to have been rectified.
Could what happened with LUNA/UST also happen with, oh, ETH/DAI or BNB/BUSD?
I don't think it is that simple. Why did the Luna foundation choose to sell when the markets were crashing? Did they reveal the truth?
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