Kevin Zhou, Galois Capital founder and vocal critic of Terraform Labs CEO Do Kwon’s work, discusses the impact of the TerraUSD turmoil on the Terra ecosystem and the wider crypto markets as regulation looms.
Plus, reactions to Terra’s community-proposed plan that hopes to save UST.
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UST Falls to $0.35, Terra Futures See $106M in LiquidationsFutures traders lost $106 million on Terra’s LUNA in the past 24 hours as prices fell below $7. By shauryamalwa
Source: CoinDesk - 🏆 291. / 63 Read more »
Terra founder Do Kwon shares plan to save the UST stablecoin peg⬆ +12 Terra founder Do Kwon shares plan to save the UST stablecoin peg $UST terrausd $LUNA terra $LUNA terra
Source: CryptoPanicCom - 🏆 563. / 51 Read more »
Terra, Luna and UST: How we got hereThe situation surrounding TerraUSD is complicated and has unfolded exceedingly fast. Here's what you should know so far. for those who got wrecked
Source: TheBlock__ - 🏆 464. / 53 Read more »
Terra Proposes Token Burn and Increase in Pool Size to Stop UST DilutionTerra believes that the downwards pressure on UST’s peg is diluting Luna, impeding recovery for both while creating an excess of UST, and the way to solve this is through token burning and increasing the available pool of Luna. By thesamreynolds thesamreynolds As UST is closing to $1, more people will try to sell whatever they have at the best price possible, creating down pressure on UST and Luna. thesamreynolds So they sacrificied all of their $LUNA holders for their $UST holders. Classy fucking bunch those guys are. thesamreynolds Luna and UST comeback is a matter of time… let’s be creative and LUNAtic stay strong together🔥🔥🔥
Source: CoinDesk - 🏆 291. / 63 Read more »
Terra-Based DeFi Protocol Anchor Proposes Cutting UST Yield Rates to 4%The contributors of Terra-based decentralised finance protocol Anchor have proposed cutting terraUSD rates to an average of 4% from the current 19.5% as the broader Terra ecosystem seeks measures to protect UST’s peg with U.S. dollars. By shauryamalwa shauryamalwa Terra & UST need to get bent. They were just used to rob the entire crypto community. shauryamalwa How will that help
Source: CoinDesk - 🏆 291. / 63 Read more »
Luna Foundation Guard Seeks Funding as UST Crashes From Peg AgainThe Luna Foundation Guard (LFG) has been battling to shore up its beleaguered UST stablecoin, which has crashed from its dollar peg yet again. Just let it die $LUNA
Source: CryptoPanicCom - 🏆 563. / 51 Read more »