Article written April 4th: “Why the Terra / Luna protocol Will Almost Certainly Fail”

Reposting, in case anyone is interested and didn’t see it the first time round.

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8 thoughts on “Article written April 4th: “Why the Terra / Luna protocol Will Almost Certainly Fail””

  1. https://medium.com/@philberent1/hi-i-wrote-a-very-similar-article-to-yours-i-hasten-to-add-without-seeing-yours-until-now-it-54b82cf58f5f Do you have other thoughts on this?

    Your article is really good, except “Holders of UST can always swap $1 worth of Luna for 1 UST, or 1 UST for $1 worth of Luna.” seem to be untrue. I although thought you could redeem 1 UST for 1$ of LUNA at anytime, but it looks like there is a redemption fee / spread / whatever you call it.

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  2. Yeah all it took was a billion dollar attack, something all other stablecoins encounter daily! All the “I told you posts” wouldn’t exist if it wasn’t for an attack, it was all working as clockwork, the peg was stronger than usdt’s

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  3. Damn. The article really called it. I have seen tweets from other people who called the problems with Terra out, but the Do Kwon was simply making bets that they will not come true. Now who has having a laugh? I hope Do Kwon is fine though. I believe Luna will survive.

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  4. This is devastating for those who just bought LUNA recently 🙁

    Well I guess let’s focus on IDOs as of this moment while the market is unstable. I heard GamIFi’s IDO are doing great and it’s the sought after launchpad because of their worth-the-buck rates

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