Let me share some of the information why there is risk with $UST.

Basically there is a few way to convert your $UST to $USDT for buying other cryptocurrency on the secondary market.
/Thread
1/ When you hold $UST and want to exit to $USDC/ $USDT for redemption or trading, there's 2 ways.

1. You burn your $UST mint $LUNA. You take your $LUNA and send it to a CEX and exchange it to $USDT.

2. You send your $UST to CEX/DEX (kucoin/curve.fi)
You swap it to $USDT
2/ Using the first method, $LUNA would be sold in the open market, causing prices to drop.
3/ Using the second method, if there is a huge amount of $UST exiting the system, it will depeg off it's original value of $1 and go to a slight discount.
Arbers will buy the cheap $UST and do the 1st method. That's how the rebalancing works.
4/ The difference between Iron.finance and Terra is that there is actual usage/value in $ANC and in $MIR

But my POV changed recently due to the % returns for $MIR.

The R/R is no longer worth.
5/ When TVL was climbing crazily, the APR for mAssets was around 500%-600%

Right now, LPing for blue chip stocks are around 20+ % to around 30+%?

$MIR is basically a farm and dump coin.
6/ As you can see in all other blockchains, when APR drops, TVL in any protocol will slowly disappear in hopes of finding higher/safer yield.

In the case for $MIR, there's more than 50% of the TVL locked in $MIR.

What happens when a few whales choose to exit.
7/ There might be several reasons for their exit.

Equity market crash, incentive not worth LPing while taking the risk and many other reasons.
8/ But then again, I might just be larping so that whales exit and I can have higher yield.
I guess we'll never know.
9/ Good luck to all the haters. I've dumped on you at reasonably high returns and have no intention holding through the hell I expect to see.
10/ If you bought the ATH, use this.
11/ If you bought at under a dollar, repeat after me.

Unrealised profits are not profits.
Unrealised profits are not profits.
Unrealised profits are not profits.
12/ If you're going to believe a hypeman CEO that uses airdrop to push prices, awesome.

Short term bull, long term bearekt.

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More from @BBhodler

19 Jul
Thoughts on market

Thread
1/ Currently equities are near ATH (just did a retracement)

$BTC is about 50% off ATH

#DeFi yields are drying up.
2/ From march 2020, we all learn that crypto markets are highly corelated with equity market when it is going through a correction/crash.

If equity market crashes, $BTC will crash again too.
Read 11 tweets
30 May
Some alpha leaks

$BUNNY
1/ $BUNNY is backed by binance labs, IDEO CoLab & SparksLabs korea

It's basically a yield aggregator like the many others in the #BSC space such as $AUTO & $BIFI.

Yield aggregators always has a much higher odds of listing as it is much easier to get a high TVL.
2/ On 20th May, they got exploited and lost a total of $45 mil. But in actual fact, the damage is much worst.

Their market cap pre hack was around $75m but is around $10m as of writing.

TVL dropped around -90% compared to ATH when it was around $10b TVL
rekt.news/pancakebunny-r…
Read 15 tweets
4 May
There are many misconceptions on @PancakeSwap and many are still thinking it's just another $UNI fork.

This thread is 3months too late... but still nevertheless
Thread/
1/ $CAKE is @PancakeSwap governance token that is used to incentivize users on their platform.

You can get these tokens simply by providing LP or by staking $CAKE on their syrup pools.
2/ $CAKE has no max capped supply. This is when things get really tricky.

Many still thinks that high inflation rate + infinite supply would result in price falling over time.

I will explain more about this later in this thread.
Read 11 tweets
16 Mar
My second 100x

Feeling emotional.

1. $RUNE
2. $LUNA

Thread
1/ Shoutout to @thorchain_org and the rest of the community whom continuously help improve the project.

I've seen it grown from an IDO to 1 of the top projects in this #DeFi.
2/ Shoutout to @terra_money for building real world product that continuously help improve the broken banking system we see today.

I've seen it grown from -75% to now over 25x from sale price.

It's been a crazy long journey.
Read 8 tweets
24 Sep 20
Earlier this year, I wrote a thread to explain how the TVL affects $RUNE MC.

Kinda feel that the space has too much fresh blood and education is needed again. Here is my thread below to explain how TVL affects $RUNE prices!
1. How is $RUNE price move with TVL?

It's simple, $RUNE minimum MC is x3 of TVL in theory. Why do I say so?
First, we must first understand that the pools for Thorchain is a 1:1 balanced pool(just like uniswap).
2. With every dollar staked in the pool, a dollar worth of $RUNE must be staked.

If we stake $1 of $BTC in a $BTC / $RUNE pool, we would need to stake $1 of $RUNE.

Node operators would also need to bond the value deposited by in $RUNE tokens which is $2($1 from BTC, $1 RUNE).
Read 10 tweets
15 May 20
Trading a particular token/coin on cryptocurrency should not have the same behaviour as treating it like a religion.
Sometimes when there are better tech out there, maybe take a step back and evaluate again?
My advice are for all the people dumping their life savings in .
Everyone buying lots is obviously walking into a pit of doom.
Early adopters are dumping large amount thanks to the liquidity we are providing.
Think about that..
I will illustrate with some examples
In 2017, the cash cow was in blockchain projects. Every successful blockchain project gives back crazy 10x - 100x returns.

Sure, might have gave the 100x. It's hard for it to do another 10x.

Whereas small cap oracles have a much higher chance to do a 10x instead.

Read 4 tweets

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