I wonder - after the scam of Luna - the

Question

I wonder - after the scam of Luna - the

whole crypto market got the huge hole in funds. That should be reflected in market's conditions - it HAS to further move down. Instead , it is growing?! Wtf???!

#binance #crypto-exchange #cryptocurrency #english

0

13.05.2022

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rybynty iTobago Автор вопроса

I don't understand how the pegged UST could lost the peg. That is the point. That is the scam. This is stablecoin. 1 stablecoin have to be 1$. When the peg is breaking - that is the scam.

0

13.05.2022

Kiking incento

rybynty iTobago
I don't understand how the pegged UST could lost t...

But ust wasn't backed by usd

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13.05.2022

Varun Pant

rybynty iTobago
I don't understand how the pegged UST could lost t...

It was designed for normal operation- then someone saw an opportunity to exploit it. Please read how it was exploited to create the deadly spiral

0

13.05.2022

Varun Pant · Accepted Answer

Varun Pant

It wasn't a scam by Terra Luna. It was the shortcoming in the implementation, that caused a deadly spiral when the prices of both UST and governance token Luna fell, thus being unable to counterbalance the loss in value of UST.

0

13.05.2022

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