is not pegged by the same amount of LUNA. The whole project will crash.
Ok, maybe it’s not, but can somebody please and honestly explain (no bullish hype talking)… what will happen if LUNA market cap goes below the market cap of UST.
Then, what is the reserve of UST?
Market cap doesn't mean anything. And Terra is buying bitcoin reserves too.
Thanks for your reply. But can you please explain what will happen if LUNA market cap goes below the market cap of UST. What is the reserve of UST? Does UST need a reserve or not?
Literally nothing happens. Luna is burned or minted if UST is off the peg. Nothing to do with market cap
And where can I check the amount of Bitcoin reserves that (according to you) protect UST stablecoin.
It has not been announced yet but Do Kwon joked about 1 billion not being it https://twitter.com/stablekwon/status/1481232693283418113
Thanks so much for finding the source for me 🥰
luna mcap went below mcap of ust on May 24th , 2021. and then.. nothing happened
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