smarter thing to do is this:
1. Buy $LUNA
2. Borrow against your $LUNA
3. Spend what you borrow
or.
1. Buy $LUNA
2. Put $LUNA into a yield earning position (staking)
3. Live off the yield.
I'd recommend exploring other protocols too. Stake rewards on Luna is too low IMO
Don’t advise people to borrow unless they understand how liquidations work
only if the 'credit' or 'debt' version of LUNA card is available, then it is really rather strong.
That's true. Otherwise, tragedy might happen.
Right now, I think it is (correct me if I am wrong) 10%. One could just diversify; some do staking, some save aside (for whatever %), some exchange into UST, and some use liquidation provider pool ( ANC-UST or MIME-UST ...etc) on protocols such as Apollo, Pylon...etc. A good exposure over them is better choice though many hinges on ANC and MIR. I really hope the 'credit' or 'debit' card version could be available worldwide, that's when LUNA is really standing solidly on DeFi and the real world.
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