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Obviously I'm a little out of the loop, but what is the "attack" they talk about in the new plan? I thought the coin just death spiraled.
by bmm6o 4y ago
Obviously I'm a little out of the loop, but what is the "attack" they talk about in the new plan? I thought the coin just death spiraled.
- celticninja 4y agoThe thoughts are that someone borrowed lots of BTC and UST, started selling UST to depeg, then started selling BTC as they tried to regain the peg, the joint selling of BTC lowered the price making it harder, actually impossible,to regain the peg.
- dwighttk 4y agoBut wouldn’t that just be mr market, not a particular someone?
- deutz_allis 4y agohttp://podcast.banklesshq.com/ust-luna-the-biggest-collapse-in-crypto-history http://podcast.banklesshq.com/ust-luna-the-biggest-collapse-... These guys discuss some details (that were known as of this publish date). It closely resembles the 'attack' on GBP in the 90's by a billionaire.
- rspeele 4y agoTerra: you can always exchange 1 UST for $1 worth of Luna via this smart contract if you'd like to cash out. Users: OK, don't mind if I do. Terra: help we're under attack.