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Syed Anus Nasir🔥🕊-

Without telling any thing you increased the supply in trillions

overnight why this happened who responsible? Now team is not even talk about classic tell me sir

#blockchain #cryptocurrency #english #luna
0

4 ответов

5 просмотров
Jeb-

Hey buddy. It is not that they “increased the supply”. Luna supply going to trillions is the result of a bad design. In order to understand it, we need first to talk about UST. As you probably know, UST is an algorithmic stablecoin pegged to US dollar. The peg was possible thanks to an arbitrage mechanism with Luna. This mechanism consisted in minting Luna when UST went under 1$ by buying and burning UST for Luna. In other words, if UST went under 1$ more Luna was minted. The opposite is also true: if UST went above 1$, Luna was burned. Even if it is a little bit more complex that my explanation, it will be enough to understand this mechanism. Now the big problem is that there was a large depeg. Who or what caused this depeg is not totally clear. But apparently one of the TFL’s Wallet might be behind of this depeg. It’s under investigation. Anyway, when this depeg occurred, trillions of Luna were minted in order to repeg ust. I recommend you to follow FatMan on twitter. He explains in detail how this peg mechanism allowed Do Kwon to make billions of dollars for himself by defrauding his investors.

0
14.06.2022
Jeb-

It’s sad that admin doesn’t provide this kind of info. Just sending a link is enough. But instead, he laugh at investors. Imagin what kind of team is behind this Terra.

0
14.06.2022
Syed Anus Nasir🔥🕊- Автор вопроса
Jeb
Hey buddy. It is not that they “increased the supp...

I know but you know the tweet steady lad deploying more capital

0
14.06.2022

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