Mkt cap UST 9x Luna. Explain to me like I’m 5.

UST mkt cap right now is $5.3 billion and Luna $596 million. Aren’t they supposed to be the same? I thought I had read something like that to keep it pegged to $1.
UST is over 9x Luna.
Someone please explain it to me like I’m 5.
Disclaimer: holding a UST bag

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3 thoughts on “Mkt cap UST 9x Luna. Explain to me like I’m 5.”

  1. its doomed

    ur not gonna be able to redeem it for 1:1

    its a death spiral, there wont be recovery (UST $1 peg) for a long long long time until they can fix the supply and even then, every1s trust is gone so people aren’t going to buy it

    Reply
  2. I am so sorry, but right now Luna is in utter chaos….

    Better question, will the Luna project survive this or will it completely fail?

    Reply
  3. Lets say Luna is $1 million, you trade 1 luna for $1 mil UST. Then price of luna goes to $1, and you want to redeem the 1 million UST, you get 1 million Luna. So yeah, price is exponentially fucked.

    Reply

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