LUNA eclipse 🌖🌗🌘
TL;DR UST stablecoin formerly 3rd by market cap lost its peg and dropped from its intended $1 peg as low as $0.225 on 11th of May together with dreams and hopes of thousands of users.🌖 What happenedUST (TerraUSD) was one of the most prominent decentralized and algorithmic stablecoins on the Terra blockchain. Unlike centralized stablecoins USD Coin or Tether that are backed by real-world, dollar-denominated reserve assets, TerraUSD maintains its peg largely by another volatile cryptocurrency,...
LUNA eclipse 🌖🌗🌘
TL;DR UST stablecoin formerly 3rd by market cap lost its peg and dropped from its intended $1 peg as low as $0.225 on 11th of May together with dreams and hopes of thousands of users.🌖 What happenedUST (TerraUSD) was one of the most prominent decentralized and algorithmic stablecoins on the Terra blockchain. Unlike centralized stablecoins USD Coin or Tether that are backed by real-world, dollar-denominated reserve assets, TerraUSD maintains its peg largely by another volatile cryptocurrency,...
