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. 👇
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. 👇
@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.
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...
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...
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)
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 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)
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)
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 🧵
(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)
It was around $48,000 in early May with Bitcoin at $38,000, and $200,000 at Juno all-time (early March)
טוב, אבל אם כבר לונה, אז יאללה: סיכום קטן (אך לא קצר), על איך התאדו להם יותר מ-40 מיליארד דולר:
1. קודם כל, כדי להבין את לונה, אנחנו בעצם צריכים להבין מהו Stablecoin. סטייבלקוינס, או בעברית, מטבעות יציבים, הם מטבעות שערכם צמוד לערך מטבע רגיל כלשהו - דולר, אירו וכו'.
סטייבלקוינס מתחלקים לשני סוגים עיקריים:
סטייבלקוינס מתחלקים לשני סוגים עיקריים:
1. סטייבלקוינס מגובי פיאט (מגובי כסף רגיל) - כשמם כן הם. אלה טוקנים, מטבעות קריפטו שקיימים על שלל רשתות בלוקצ'יין, שעל כל טוקן אמור להיות דולר/יורו/וכו' אחד בחשבון הבנק של החברה המנפיקה.
הסטייבלקוינס הגדולים ביותר הם מהסוג הזה - USDT ו-USDC (אבל בואו נגיד ש-USDC הוא האמין יותר).
הסטייבלקוינס הגדולים ביותר הם מהסוג הזה - USDT ו-USDC (אבל בואו נגיד ש-USDC הוא האמין יותר).
$DJED vs $UST, a thread 🧵⬇️
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? 🤔
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? 🤔
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 “death 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
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🌑
1/26
#Luna #UST #Terra #Crypto #Cryptocurrency
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🌑
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 🏦
2. Top aUST wallets 🛅
3. Curve pools 🚰
2/26
1. Anchor deposits and yield reserve 🏦
2. Top aUST wallets 🛅
3. Curve pools 🚰
2/26
All the signs were there:
1.Anchor’s 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
1.Anchor’s 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
Día 14 #CocoGames
Con todo lo que ha sucedido estos días en el mundo cripto: la bajada de Bitcoin, el desplome de #Terra y #LUNA..., muchas personas me han preguntado sobre las pérdidas y su efecto en la Declaración de la Renta
Abro 🧵
Con todo lo que ha sucedido estos días en el mundo cripto: la bajada de Bitcoin, el desplome de #Terra y #LUNA..., muchas personas me han preguntado sobre las pérdidas y su efecto en la Declaración de la Renta
Abro 🧵
Que entiende Hacienda por pérdidas y ganancias patrimoniales (Art. 33 Ley IRPF): "Variación en el valor del patrimonio del contribuyente que se ponga de manifiesto con ocasión de cualquier alteración en la composición de aquel".
Vamos por partes para entenderlo bien: lo fundamental es la ALTERACIÓN en nuestro patrimonio, es decir, tenemos que vender, donar o permutar bienes o derechos (en este caso criptomonedas).
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.
#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.
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.
Lecciones aprendidas de la caída del Ponzi de #TERRA, $LUNA y $UST
En este hilo te explicaré;
• Por qué no debes casarte con tus inversiones
• Cuáles son las Red Flags 🚩 de un proyecto
• La importancia de la diversificación
Abro Hilo 👇🧵
En este hilo te explicaré;
• Por qué no debes casarte con tus inversiones
• Cuáles son las Red Flags 🚩 de un proyecto
• La importancia de la diversificación
Abro Hilo 👇🧵
1/ NUNCA te cases con tus inversiones
Cuando ocurrió el depeg y comenzó la espiral de la muerte aún había miembros de la comunidad #LUNATICS que seguían confiando
Las comunidades/sectas son lo peor todos tienen el mismo objetivo y se ciegan al ver los riesgos
Cuando ocurrió el depeg y comenzó la espiral de la muerte aún había miembros de la comunidad #LUNATICS que seguían 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 críticamente el riesgo de los proyectos en los que inviertes, si quiere sobrevivir el Bear Market/Mercado Bajista
Tampoco confíes en un CEO/Fundador de un proyecto, ellos quieren lo mejor para él y no te advertirán los riesgos @stablekwon
Tampoco confíes en un CEO/Fundador de un proyecto, ellos quieren lo mejor para él y no te advertirán los riesgos @stablekwon
اتفاقی که برای شبکه #Terra و دو توکن #LUNA و #UST افتاد از اون دست اتفاقاتیه که آینده همه بهش ارجاع میدیم و از عوامل مهم ریزش قیمت #بیت_کوین تو سال 2022 تو ذهنمون ثبت میشه، کرمی که اینجور مواقع دارم اینه که ببینم چرا اینجوری شده و ازش چی میتونم یاد بگیرم؟
تو این مقاله بچهها تقریبا پیش از همه این اتفاقات تلخ، هشدار داده بودن که این اکوسیستم نمیتونه با این سیاست عمر طولانی داشته باشه که خوندش رو حتما پیشنهاد میکنم بهتون
mihanblockchain.com/ust-hyper-grow…
mihanblockchain.com/ust-hyper-grow…
اکوسیستم ترا به دنبال پیاده سازی استیبلکوین الگوریتمی و با پشتوانه کریپتویی (البته به شکل الگوریتمی)، ترا استیبلکوینها رو عرضه کرد که مهمترینش هم UST به عنوان استیبل کوین پگ شده با دلار امریکا بود. مکانیزم این استیبل کوین هم خیلی ساده و شفاف بود:
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.
If you know more, feel free to add them below.
@SDLC420 -> Ethereum
Some reflections from investing in the $LUNA $UST debacle. 🧵👇 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.☠️
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.☠️
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.
#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
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
Absolute madness coming out of the #Terra ecosystem this week. I won’t pretend that I foresaw the #Luna crash coming, but it did prove the point I’ve been making recently about how #Bitcoin is money, not an investment.
🧵👇🏻
🧵👇🏻
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’s plan to sell its BTC when it felt it was needed. Now people are mad because LFG’s BTC liquidation crashed the market.
But it was always in LFG’s plan to sell its BTC when it felt it was needed. Now people are mad because LFG’s BTC liquidation crashed the market.
Bitcoin is the best money the world has ever had. But that’s all it is.
In other words, if your business or project doesn’t create lasting value in and of itself, trying to self-validate by latching onto Bitcoin won’t keep the music from stopping eventually.
In other words, if your business or project doesn’t create lasting value in and of itself, trying to self-validate by latching onto Bitcoin won’t keep the music from stopping eventually.
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? 👇🧵
@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.
My proposal for a sensible way to move forward for the @terra_money community and #LUNATICs.
$LUNA $UST $ANC #terra
🧵
$LUNA $UST $ANC #terra
🧵
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.
🧵 HILO STABLECOINS🧵
▶️ Después de lo sucedido con $Luna y su stablecoin $UST, creemos que es muy importante saber en qué se diferencian $USDT, $USDC, $BUSD, $UST y $DAI.
¡Like ❤ y RT 🔁 para más hilos!
[1/30]
▶️ Después de lo sucedido con $Luna y su stablecoin $UST, creemos que es muy importante saber en qué se diferencian $USDT, $USDC, $BUSD, $UST y $DAI.
¡Like ❤ y RT 🔁 para más hilos!
[1/30]
⚖️ ¿Qué son las stablecoins? ⚖️
▶️ Son activos digitales desarrollados para replicar el precio de una moneda fiduciaria o bienes materiales de valor
▶️ Las monedas estables están diseñadas para proporcionar estabilidad cuando los precios fluctúan enormemente
[2/30]
▶️ Son activos digitales desarrollados para replicar el precio de una moneda fiduciaria o bienes materiales de valor
▶️ Las monedas estables están diseñadas para proporcionar estabilidad cuando los precios fluctúan enormemente
[2/30]
¿Cuántos tipos de stablecoins distintos hay?
Hay cuatro:
▶️ Respaldada por fiat ( $USDT, $USDC o $BUSD )
▶️ Respaldada por criptomonedas ( $DAI )
▶️ Respaldada por materias primas ( $PAXG )
▶️ Basadas en algoritmos ( $UST )
[3/30]
Hay cuatro:
▶️ Respaldada por fiat ( $USDT, $USDC o $BUSD )
▶️ Respaldada por criptomonedas ( $DAI )
▶️ Respaldada por materias primas ( $PAXG )
▶️ Basadas en algoritmos ( $UST )
[3/30]
1/ A 🧵 for founders in light of the recent crypto market and #Terra implosion
- Crypto Prices
- Liquidity
- Fundraising Landscape
- GTM Strategy
👇
- Crypto Prices
- Liquidity
- Fundraising Landscape
- GTM Strategy
👇
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
- 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
- Crypto shouldn't correlate to equities, but most investors treat crypto as a 'risk-on' asset class; therefore it does
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....
🧵/1
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....
🧵/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...
🧵/2
I want to reiterate too, that I do not believe #TA can be effectively used to predict the future...especially black swan events.
HOWEVER...
🧵/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.
🧵/3
And the charts always reveal those clues.
So I just wanted to explore if there were any left before the #Terra ecosystem collapsed.
🧵/3
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 🧵👇
2/ Zunächst mal ist es dem #Bitcoin-Netzwerk ziemlich egal, wie hoch der Kurs steht. Nicht zensierbares und von Zentralbanken unabhängiges Geld wächst weiter. Tatsächlich 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, darüber lässt sich streiten. Auf jeden Fall ist es jetzt implodiert und das ist ein reinigendes Gewitter. open.spotify.com/episode/2NUREa…
Resumen de #LUNA, la criptomoneda de la blockchain #Terra que se hundió y perdió el 99% de su valor cayendo desde una capitalización de mercado de $44 mil millones y un precio ATH por moneda de $119.5, a menos de $2 mil millones de capitalización y un precio $0.69? 😱
Hilo
1/23
Hilo
1/23
Para que todos los que lean este hilo puedan entender lo que pasó con la criptomoneda #LUNA y porqué se hundió 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
2/23
¿Qué es una moneda estable o #Stablecoin?
Es una criptomoneda que se emite a través de una #blockchain y que tiene como garantía/colateral dinero FIAT, materias primas y/o otros instrumentos financieros. Esto con el propósito de mantener una paridad 1:1 con el dólar #USD.
3/23
Es una criptomoneda que se emite a través de una #blockchain y que tiene como garantía/colateral dinero FIAT, materias primas y/o otros instrumentos financieros. Esto con el propósito de mantener una paridad 1:1 con el dólar #USD.
3/23
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.
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.
I’m 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’t have a large network here so please retweet if you think this is valuable to the community. 💛
I don’t have a large network here so please retweet if you think this is valuable to the community. 💛
$UST $LUNA Tax Implications 🧵. 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
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.
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 :)
#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...
2. There's a nice downside risk but could be huge huge profits if it played out..
