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> But who the hell wants Luna? In theory, people would want Luna to get the 20% returns through Anchor. Of course, that assumes the 20% returns would continu
by lalaland1125 4y ago
> But who the hell wants Luna?
In theory, people would want Luna to get the 20% returns through Anchor.
Of course, that assumes the 20% returns would continue forever (which a bunch of crypto people foolishly believed) ...
- shawabawa3 4y agoLuna had nothing to do with 20% returns TerraUSD yielded 20% returns on anchor Luna gave staking yield. It received a portion of transaction fees off the Terra network, that was what created demand for Luna - if you thought transactions on Terra were going to increase and therefore give increase yield in the future Of course there simply wasn't enough demand to offset the terrible peg mechanism
- lalaland1125 4y agoAnd where do you think the TerraUSD invested in anchor came from? That TerraUSD all came from people buying Luna and converting it to TerraUSD. The root of demand for the Luna ecosystem was the 20% returns.
- TedShiller 4y agoIf 20% returns lasted forever, we would all be trillionaires
- nikanj 4y agoWAGMI ( https://www.urbandictionary.com/define.php?term=wagmi https://www.urbandictionary.com/define.php?term=wagmi ) is a popular rallying cry in the crypto circles. XYZ coin is headed to the moon, and buying in today is like buying into bitcoin in 2009. The people don’t believe we can all be trillionaires, they just believe everyone who believed and HODLled their savings into XYZ is going to be one.
- smcl 4y agoWait what are those 20% returns denominated in?