Like I’m your muscled up uncle?
How do they track this lol
How do they track this lol
Can someone explain the TerraLuna crypto bankruptcy today?
- Thread starter Uncle Muscles
- Start date
The TerraUSD stablecoin always relied on crypto LUNA for stability, allowing the stablecoin to be replaced with LUNA any time TerraUSD dipped below $1.
The algorithm connecting the coins was broken and when LUNA prices dropped with the rest of the crypto market, the stable coin that needed to remain a dollar collapsed to $0.35. The supply of LUNA started spinning out of control to try and correct the stable coin and I think something like a trillion LUNA were created yesterday to try and stabilize the TerraUSD. As a trillion LUNA were created the LUNA bag holders saw the value of their coins go to zero
The algorithm connecting the coins was broken and when LUNA prices dropped with the rest of the crypto market, the stable coin that needed to remain a dollar collapsed to $0.35. The supply of LUNA started spinning out of control to try and correct the stable coin and I think something like a trillion LUNA were created yesterday to try and stabilize the TerraUSD. As a trillion LUNA were created the LUNA bag holders saw the value of their coins go to zero
This when you remember to never put all your eggs in one basket
How any LUNA were there prior to the big jump in coins the other day?
Also is there a difference between LUNA and Wrapped LUNA?
Also is there a difference between LUNA and Wrapped LUNA?
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