The Luna Foundation Guard revealed how much they spent in their failed attempt to defend the UST peg.
The Luna Foundation Guard finally broke the silence and revealed exactly how much they spent to defend the UST peg throughout the events of last week., UST – the algorithmic stablecoin of its ecosystem – lost its peg and came crashing last week.
It’s important to note that LFG had previously acquired a number of cryptocurrencies to be used in emergency situations like these. Unfortunately, it was for not – as the entire ecosystem came crashing by.Prior to the events of last week, their reserves consisted of: 80,394 BTC, 39,914 BNB, 26,281,671 USDT, 23,555,590 USDC, 1,973,554 AVAX, 497,344 UST, 1,691,261 LUNA.
Per the tweet, LFG did so by using on-chain swaps while also transferring BTC to a counterparty to enable them to enter trades with the Foundation in large size and on short notice.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Justin Sun Talks USDD Stablecoin in Wake of LUNA/UST UnravelThe controversial crypto entrepreneur explains how an algorithmic stablecoin can still succeed while denying rumors he was behind the de-pegging of Terra’s failed UST.
Weiterlesen »
Singaporean LUNA and UST Investor Reportedly Files a Police Report Against Terra’s Do KwonSummary: A user on Reddit claims that he has filed a police report on behalf of 1,000 Singaporeans against Terra’s Do Kwon and the LUNA project The police report states that the concerned citizen lost money in ‘the Luna Cryptocurrency scam’ Earlier today, Do Kwon had clarified via Twitter that...
Weiterlesen »
The Collapse of UST and LUNA Was Devastating, but There Is Still Hope for CryptoWhen something is supposed to be $1 and it’s not, that’s usually not good. $LUNA and $UST might have failed, but bitcoin (and crypto) is stronger for it. gckaloudis reflects in this week’s Crypto Long & Short newsletter.
Weiterlesen »
Satoshi's Mission, LUNA, UST and Where Crypto Went WrongIn 2009, Satoshi Nakamoto encoded a mission statement for the industry in Bitcoin's first block. Essentially, crypto should first do no harm.
Weiterlesen »
Terra (LUNA) trading volume surge 200% as market adjusts to death spiral'Revival plan' vs. 'insane volatility': $LUNA trading volume bounces back to nearly $6 billion.
Weiterlesen »