Crypto_Carlosa Authors Do Kwon 🌕
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1/ Dear Terra Community:
2/ I understand the last 72 hours have been extremely tough on all of you - know that I am resolved to work with every one of you to weather this crisis, and we will build our way out of this.
Together.
3/ First, if you don’t understand how Terra’s peg stabilization mechanism works, here is a good overview:
4/ A review of the current situation: UST is currently trading at 50 cents, a significant deviation from its intended peg at $1.
5/ The price stabilization mechanism is absorbing UST supply (over 10% of total supply), but the cost of absorbing so much stablecoins at the same time has stretched out the on-chain swap spread to 40%, and Luna price has diminished dramatically absorbing the arbs.
2/ I understand the last 72 hours have been extremely tough on all of you - know that I am resolved to work with every one of you to weather this crisis, and we will build our way out of this.
Together.
3/ First, if you don’t understand how Terra’s peg stabilization mechanism works, here is a good overview:
Update on Luna Tokenomics
— Pedro Ojeda (@pedroexplore1) May 11, 2022
+
How to predict when depeg will end.
Bringing back my \u201cdeath spiraling Luna\u201d model. Turns out it was accurate. All of those \u201cDidn\u2019t age well\u201d jabs at it Didn\u2019t Age Well.
1/24
\U0001f9f5
4/ A review of the current situation: UST is currently trading at 50 cents, a significant deviation from its intended peg at $1.
5/ The price stabilization mechanism is absorbing UST supply (over 10% of total supply), but the cost of absorbing so much stablecoins at the same time has stretched out the on-chain swap spread to 40%, and Luna price has diminished dramatically absorbing the arbs.