Discover and read the best of Twitter Threads about #terra

Most recents (24)

$UST / $LUNA death spiral is one of the biggest disasters in the crypto history.

Who is guilty?

@stablekwon? @LFG_org? VCs? Apes who overinvested without understanding the mechanism of the system?

All of them. But it's also me. And maybe you too.

Read my confession. 馃憞 Image
@stablekwon @LFG_org I first learned how $LUNA and $UST worked after the crypto crash in May 2021.

I was a degen farmer then and I had a fraction of my stablecoin portfolio in UST on @mirror_protocol but I wasn't really aware of UST mechanics. I thought it was just another exotic stablecoin.
@stablekwon @LFG_org @mirror_protocol When crypto prices plummeted $LUNA MC suddenly became lower than $UST MC.

It clearly undermined the faith in UST and could have led to the bank run.

By then we had already seen many other algo-stables failing. UST could have been another one...
Read 16 tweets
It was arrogance and pride that got me to put 100% of my liquid capital into the #terra ecosystem.

No one knows EVERYTHING no matter how smart.

I will diversify in the future.

4. SCALE- Others are saying that leverage was the problem. It was not. The peg was. (26/33)
Leverage is a powerful skill set that can be used in a wise way.

I didn't even get liquidated.

I was able to get out of that position and even send 6figs to friends and family that was trying to get out of their leveraged positions. (27/33)
I wouldn't have been able to do that if I had not used leverage to begin with.

It's a skill that took a life time to develop.

I'm not throwing it away.

FRIENDS
My GROUND ZERO friends are incredible.

Many are business people who blew up and came back multiple times (28/33)
Read 7 tweets
If #Juno becomes the new home of the #Terra dApps, it's likely that some Terra's validators will look to join the active set & #LUNAtics will need to figure out where to delegate ; so I thought it'd be interesting to look at the revenue of the validators on #Juno 馃У
(If you're not sure why Juno is a compelling host candidate for the Terra projects, this thread on CosmWasm might be interesting)
The average validator revenue on Juno is around $33,000 per month (mid-May 2022, Bitcoin around $30,000).

It was around $48,000 in early May with Bitcoin at $38,000, and $200,000 at Juno all-time (early March)
Read 11 tweets
讟讜讘, 讗讘诇 讗诐 讻讘专 诇讜谞讛, 讗讝 讬讗诇诇讛: 住讬讻讜诐 拽讟谉 (讗讱 诇讗 拽爪专), 注诇 讗讬讱 讛转讗讚讜 诇讛诐 讬讜转专 诪-40 诪讬诇讬讗专讚 讚讜诇专:
1. 拽讜讚诐 讻诇, 讻讚讬 诇讛讘讬谉 讗转 诇讜谞讛, 讗谞讞谞讜 讘注爪诐 爪专讬讻讬诐 诇讛讘讬谉 诪讛讜 Stablecoin. 住讟讬讬讘诇拽讜讬谞住, 讗讜 讘注讘专讬转, 诪讟讘注讜转 讬爪讬讘讬诐, 讛诐 诪讟讘注讜转 砖注专讻诐 爪诪讜讚 诇注专讱 诪讟讘注 专讙讬诇 讻诇砖讛讜 - 讚讜诇专, 讗讬专讜 讜讻讜'.

住讟讬讬讘诇拽讜讬谞住 诪转讞诇拽讬诐 诇砖谞讬 住讜讙讬诐 注讬拽专讬讬诐:
1. 住讟讬讬讘诇拽讜讬谞住 诪讙讜讘讬 驻讬讗讟 (诪讙讜讘讬 讻住祝 专讙讬诇) - 讻砖诪诐 讻谉 讛诐. 讗诇讛 讟讜拽谞讬诐, 诪讟讘注讜转 拽专讬驻讟讜 砖拽讬讬诪讬诐 注诇 砖诇诇 专砖转讜转 讘诇讜拽爪'讬讬谉, 砖注诇 讻诇 讟讜拽谉 讗诪讜专 诇讛讬讜转 讚讜诇专/讬讜专讜/讜讻讜' 讗讞讚 讘讞砖讘讜谉 讛讘谞拽 砖诇 讛讞讘专讛 讛诪谞驻讬拽讛.
讛住讟讬讬讘诇拽讜讬谞住 讛讙讚讜诇讬诐 讘讬讜转专 讛诐 诪讛住讜讙 讛讝讛 - USDT 讜-USDC (讗讘诇 讘讜讗讜 谞讙讬讚 砖-USDC 讛讜讗 讛讗诪讬谉 讬讜转专).
Read 26 tweets
$DJED vs $UST, a thread 馃У猬囷笍

With the crash of $UST / $LUNA, unsurprisingly, much doubt has been cast on #algorithmic stablecoins. #Cardano is launching its own #stablecoin as most of us know - $DJED, which is already on testnet, but how is it different? 馃
2/ $UST and $LUNA could be burned/minted in exchange for the other such that $UST = $USD, theoretically; one of the dangers here was that as $LUNA price dropped, more would have to be minted to maintain the peg - leading to the dreaded 鈥渄eath spiral"
3/ The algorithm in place to restore the peg couldn't do so at a faster pace than it was dropping, within the contract and blockchain parameters in the #Terra ecosystem, which included caps on on-chain withdrawals, among other contingencies and reserves
Read 12 tweets
My personal reflections on the $Luna $UST collapse.

This is a post-mortem from the perspective of a retail pleb from crypto class of 2021 during arguably the most hellish week of crypto history馃寫

1/26

#Luna #UST #Terra #Crypto #Cryptocurrency
I considered myself a relatively conservative investor. I had exposure to $Luna and $UST but knowing the risks of algo stablecoins, I made it a daily routine to check the important indicators:

1. Anchor deposits and yield reserve 馃彟
2. Top aUST wallets 馃泤
3. Curve pools 馃毎

2/26
All the signs were there:

1.Anchor鈥檚 UST deposits started decreasing since 8 May and accelerating.

2.A top UST holder has been sending UST to CEXs aggressively.

3.The % of UST in Curve pools has been increasing, means less liquidity for exit out of UST.

3/26
Read 28 tweets
D铆a 14 #CocoGames

Con todo lo que ha sucedido estos d铆as en el mundo cripto: la bajada de Bitcoin, el desplome de #Terra y #LUNA..., muchas personas me han preguntado sobre las p茅rdidas y su efecto en la Declaraci贸n de la Renta
Abro 馃У
Que entiende Hacienda por p茅rdidas y ganancias patrimoniales (Art. 33 Ley IRPF): "Variaci贸n en el valor del patrimonio del contribuyente que se ponga de manifiesto con ocasi贸n de cualquier alteraci贸n en la composici贸n de aquel".
Vamos por partes para entenderlo bien: lo fundamental es la ALTERACI脫N en nuestro patrimonio, es decir, tenemos que vender, donar o permutar bienes o derechos (en este caso criptomonedas).
Read 7 tweets
An inescapable conclusion must sync in.

#Terra, #Luna, and #UST are built on a fundamentally flawed architecture. This is a systemic failure which is clear and undeniable.

No rational ground can be presented to sustain the existence of the architecture in its current form.
The only potential way to fix this, is (a) stopping the entire system, (b) carefully examine it, (c) *solve the broken parts*, and (d) consider restarting *only once a viable solution is found*.
If instead of repeatedly and arbitrarily restarting this deadly roller coaster, *#Terra team would spend some time thinking hard what the most viable solution might be*, preparing carefully before restarting it, the ecosystem could perhaps recover some value in the long term.
Read 5 tweets
Consequences outside #terra after $luna collapse.

Thread 馃У
1/ There were a lot of words spoken about $UST / $Luna / #Terra collapse, but can we evaluate the total damage to the DeFi space?
2/ Besides the complete wipe of ~$50b chain a lot of protocols outside #terra were affected as well.
Read 26 tweets
Lecciones aprendidas de la ca铆da del Ponzi de #TERRA, $LUNA y $UST

En este hilo te explicar茅;

鈥 Por qu茅 no debes casarte con tus inversiones
鈥 Cu谩les son las Red Flags 馃毄 de un proyecto
鈥 La importancia de la diversificaci贸n

Abro Hilo 馃憞馃У
1/ NUNCA te cases con tus inversiones

Cuando ocurri贸 el depeg y comenz贸 la espiral de la muerte a煤n hab铆a miembros de la comunidad #LUNATICS que segu铆an confiando

Las comunidades/sectas son lo peor todos tienen el mismo objetivo y se ciegan al ver los riesgos
2/ Tienes que ser capaz de evaluar cr铆ticamente el riesgo de los proyectos en los que inviertes, si quiere sobrevivir el Bear Market/Mercado Bajista

Tampoco conf铆es en un CEO/Fundador de un proyecto, ellos quieren lo mejor para 茅l y no te advertir谩n los riesgos @stablekwon
Read 7 tweets
丕鬲賮丕賯蹖 讴賴 亘乇丕蹖 卮亘讴賴 #Terra 賵 丿賵 鬲賵讴賳 #LUNA#UST 丕賮鬲丕丿 丕夭 丕賵賳 丿爻鬲 丕鬲賮丕賯丕鬲蹖賴 讴賴 丌蹖賳丿賴 賴賲賴 亘賴卮 丕乇噩丕毓 賲蹖鈥屫屬 賵 丕夭 毓賵丕賲賱 賲賴賲 乇蹖夭卮 賯蹖賲鬲 #亘蹖鬲_讴賵蹖賳 鬲賵 爻丕賱 2022 鬲賵 匕賴賳賲賵賳 孬亘鬲 賲蹖鈥屫促囏 讴乇賲蹖 讴賴 丕蹖賳噩賵乇 賲賵丕賯毓 丿丕乇賲 丕蹖賳賴 讴賴 亘亘蹖賳賲 趩乇丕 丕蹖賳噩賵乇蹖 卮丿賴 賵 丕夭卮 趩蹖 賲蹖鈥屫堎嗁 蹖丕丿 亘诏蹖乇賲責
鬲賵 丕蹖賳 賲賯丕賱賴 亘趩賴鈥屬囏 鬲賯乇蹖亘丕 倬蹖卮 丕夭 賴賲賴 丕蹖賳 丕鬲賮丕賯丕鬲 鬲賱禺貙 賴卮丿丕乇 丿丕丿賴 亘賵丿賳 讴賴 丕蹖賳 丕讴賵爻蹖爻鬲賲 賳賲蹖鈥屫堎嗁 亘丕 丕蹖賳 爻蹖丕爻鬲 毓賲乇 胤賵賱丕賳蹖 丿丕卮鬲賴 亘丕卮賴 讴賴 禺賵賳丿卮 乇賵 丨鬲賲丕 倬蹖卮賳賴丕丿 賲蹖鈥屭┵嗁 亘賴鬲賵賳
mihanblockchain.com/ust-hyper-grow鈥
丕讴賵爻蹖爻鬲賲 鬲乇丕 亘賴 丿賳亘丕賱 倬蹖丕丿賴 爻丕夭蹖 丕爻鬲蹖亘賱鈥屭┵堐屬 丕賱诏賵乇蹖鬲賲蹖 賵 亘丕 倬卮鬲賵丕賳賴 讴乇蹖倬鬲賵蹖蹖 (丕賱亘鬲賴 亘賴 卮讴賱 丕賱诏賵乇蹖鬲賲蹖)貙 鬲乇丕 丕爻鬲蹖亘賱鈥屭┵堐屬嗏屬囏 乇賵 毓乇囟賴 讴乇丿 讴賴 賲賴賲鬲乇蹖賳卮 賴賲 UST 亘賴 毓賳賵丕賳 丕爻鬲蹖亘賱 讴賵蹖賳 倬诏 卮丿賴 亘丕 丿賱丕乇 丕賲乇蹖讴丕 亘賵丿. 賲讴丕賳蹖夭賲 丕蹖賳 丕爻鬲蹖亘賱 讴賵蹖賳 賴賲 禺蹖賱蹖 爻丕丿賴 賵 卮賮丕賮 亘賵丿:
Read 18 tweets
So far, here is a list of #Terra nft projects, dapps and where they are planning to migrate to.

If you know more, feel free to add them below.
Read 10 tweets
Some reflections from investing in the $LUNA $UST debacle. 馃У馃憞 1/16

DISCLOSURE: I'm a moron who lost a metric-ton of capital this week on a project currently circling the drain to $0.00, so read & heed at your own peril.鈽狅笍
2/
#Diversification isn't sexy, but can help you live 2 fight another day

Diversify by:
-asset class (stonks, gold, crypto, stable)
-account (margin, IRA, Roth, multi-wallet)
-strategy (stake, LP, leverage, hedge)

Concentration can get you to the moon faster but far less often.
3/ #TradFi money managers often have both a "Core & Satellite" position where:

Core = strategic (longer-term buy & hold)
Satellite = tactical (trading shorter term moves)

In between tactical moves, low-yielding stable plays or boring LP's are better than riding crazy delta down
Read 16 tweets
Absolute madness coming out of the #Terra ecosystem this week. I won鈥檛 pretend that I foresaw the #Luna crash coming, but it did prove the point I鈥檝e been making recently about how #Bitcoin is money, not an investment.

馃У馃憞馃徎
A lot of people were thrilled when @LFG_org announced Bitcoin purchases to help stabilize the peg of the #ust stablecoin.

But it was always in LFG鈥檚 plan to sell its BTC when it felt it was needed. Now people are mad because LFG鈥檚 BTC liquidation crashed the market.
Bitcoin is the best money the world has ever had. But that鈥檚 all it is.

In other words, if your business or project doesn鈥檛 create lasting value in and of itself, trying to self-validate by latching onto Bitcoin won鈥檛 keep the music from stopping eventually.
Read 4 tweets
JUST IN: #DoKwon submits a revival plan for #Terra including resetting the network ownership to 1B tokens. Maybe it's not game over for #Luna just yet? 馃憞馃У
@stablekwon proposes to establish a new chain, resetting the supply to 1B tokens. The priority is to preserve the Terra ecosystem community, which is the primary source of value for Terra.
The new chain is to be community run, i.e. the distribution of the new token is to be airdropped to community participants, and none allocated to #TerraformLabs. Check the proposed distribution here.
Read 5 tweets
My proposal for a sensible way to move forward for the @terra_money community and #LUNATICs.

$LUNA $UST $ANC #terra

馃У
1/ I think we can quite confidently say at this point that the $UST Peg isn't going to be restored to $1. We entered the tail end of the death spiral in which $LUNA is being minted at an increasingly exponential pace and approaching zero and being delisted from CEXs.
2/ That being said, there is still tremendous value in the $LUNA ecosystem (the infrastructure and the community of #LUNATics and its users) that should be salvaged in order to rebuild what we started. Improving upon what we learned and making it better.
Read 18 tweets
馃У HILO STABLECOINS馃У

鈻讹笍 Despu茅s de lo sucedido con $Luna y su stablecoin $UST, creemos que es muy importante saber en qu茅 se diferencian $USDT, $USDC, $BUSD, $UST y $DAI.

隆Like 鉂 y RT 馃攣 para m谩s hilos!

[1/30]
鈿栵笍 驴Qu茅 son las stablecoins? 鈿栵笍

鈻讹笍 Son activos digitales desarrollados para replicar el precio de una moneda fiduciaria o bienes materiales de valor

鈻讹笍 Las monedas estables est谩n dise帽adas para proporcionar estabilidad cuando los precios fluct煤an enormemente

[2/30]
驴Cu谩ntos tipos de stablecoins distintos hay?

Hay cuatro:
鈻讹笍 Respaldada por fiat ( $USDT, $USDC o $BUSD )
鈻讹笍 Respaldada por criptomonedas ( $DAI )
鈻讹笍 Respaldada por materias primas ( $PAXG )
鈻讹笍 Basadas en algoritmos ( $UST )

[3/30]
Read 30 tweets
1/ A 馃У for founders in light of the recent crypto market and #Terra implosion

- Crypto Prices
- Liquidity
- Fundraising Landscape
- GTM Strategy
馃憞
On Crypto Prices
- Crypto correlates to growth equities. As macro conditions worsened past few months (war, inflation), equities got hammered. Crypto, especially alts, is high beta (higher gain/loss)
- Crypto got extra hammered since LFG sold billions of BTC to keep UST peg
- Expect to not see substantial crypto price appreciation until we get better macro outlook. ETH for Merge looking very tasty at these prices.
- Crypto shouldn't correlate to equities, but most investors treat crypto as a 'risk-on' asset class; therefore it does
Read 7 tweets
Let's look at some basic #TA for $LUNA shall we?
The purpose is to see if there were any signs before the bottom fell out on $UST on May 9th 2022 (UTC).

Before we do so, let me first state that I completely recognize that hindsight is 20/20....

馃У/1
Also, our brains are really good at recognizing patterns even when there aren't any.

I want to reiterate too, that I do not believe #TA can be effectively used to predict the future...especially black swan events.

HOWEVER...

馃У/2
Things rarely happen in isolation. Humans are messy creatures. We leave clues, even when we don't mean to.

And the charts always reveal those clues.

So I just wanted to explore if there were any left before the #Terra ecosystem collapsed.

馃У/3
Read 10 tweets
Ein paar Worte zum aktuellen #Bitcoin Crash. Tl/dr: Bitcoin ist nicht tot, wird nicht sterben. Was passiert ist, und warum das nicht so schlecht ist, hier im 馃У馃憞
2/ Zun盲chst mal ist es dem #Bitcoin-Netzwerk ziemlich egal, wie hoch der Kurs steht. Nicht zensierbares und von Zentralbanken unabh盲ngiges Geld w盲chst weiter. Tats盲chlich verwechseln viele Journalisten und Politiker #Bitcoin mit #Crypto
3/ Im Bereich #crypto gibt es zahlreiche Projekte, die an der Grenze zum Scam operieren. Ob #Terra #Luna eines war, dar眉ber l盲sst sich streiten. Auf jeden Fall ist es jetzt implodiert und das ist ein reinigendes Gewitter. open.spotify.com/episode/2NUREa鈥
Read 7 tweets
Resumen de #LUNA, la criptomoneda de la blockchain #Terra que se hundi贸 y perdi贸 el 99% de su valor cayendo desde una capitalizaci贸n de mercado de $44 mil millones y un precio ATH por moneda de $119.5, a menos de $2 mil millones de capitalizaci贸n y un precio $0.69? 馃槺

Hilo

1/23
Para que todos los que lean este hilo puedan entender lo que pas贸 con la criptomoneda #LUNA y porqu茅 se hundi贸 como el Titanic, primero debemos saber lo que son las monedas estables o Stablecoins, como se clasifican, para que fueron creadas y como funcionan:

2/23
驴Qu茅 es una moneda estable o #Stablecoin?

Es una criptomoneda que se emite a trav茅s de una #blockchain y que tiene como garant铆a/colateral dinero FIAT, materias primas y/o otros instrumentos financieros. Esto con el prop贸sito de mantener una paridad 1:1 con el d贸lar #USD.

3/23
Read 27 tweets
Real world analogy of what happened to #LUNA...

1/ Once upon a time, someone came along, let's call him Do.. and he said "Let me start a new country". I shall call it #TERRA because my country will have digital land

And he did.
2/ But like any country, Do needed a currency. Since the whole world (off chain) used USD, he said. Let me make my own currency, #UST. It will be worth 1:1 to USD and therefore he pegged to this currency and #UST was born
3/ But #UST was worthless because his country had no value. It was just a fake land sitting in the Internet. So Do said "I shall raise money for my country". And to do that I will issue a token called #LUNA and tell people they're all going to the moon with me
Read 21 tweets
I鈥檓 a licensed CPA in the US. If you need help navigating the tax implications of the $UST $LUNA and overall #crypto / #stock market crashes, comment here or DM me. No charge.

I don鈥檛 have a large network here so please retweet if you think this is valuable to the community. 馃挍
$UST $LUNA Tax Implications 馃У. Comments & DMs open.

Possible scenarios:

1) Holding $UST $LUNA & #terra tokens in underwater positions
2) Sold $UST for losses
3) Sold $LUNA / #terra tokens for losses
4) Liquidated on leveraged positions
5) Lost entire net worth via above
1) If you're holding spot/staking/LP positions of $UST, $LUNA, & #terra tokens, your losses are unrealized 'til you dispose of the tokens. URL's cannot be deducted on your 2022 return or used to offset 2022 realized cap. gains, they must become realized losses via taxable event.
Read 43 tweets
My thoughts on $Terra , $Luna & $UST, whether it's a good time to make money or bites the dust :
#LUNA #UST #TerraUSD #Terra #Cryptocrash #cryptocurrency #cryptotrading #LUNAtics
#TerraUSD

/This is my first ever thread on Twitter so give it some support :)
1. Luna fell from $96 to $0.89 in just 20 days. Can you guys imagine? This wasn't an ordinary coin. It was under top#10 in the entire world.. This could be a life changing trade. Already 3x from $0.89 which is the latest bottom... Image
2. There's a nice downside risk but could be huge huge profits if it played out..
Read 8 tweets

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