Our thoughts on the $LUNA crash and why liquid staking is more important than ever for $CRO 👇
$LUNA just did a 100% nose dive to $0.
For those who are unfamiliar with $LUNA and Terra, $LUNA is the gas token behind Terra. Similar to how $CRO functions for @cronos_chain and Crypto.org chain
For those who are unfamiliar with $LUNA and Terra, $LUNA is the gas token behind Terra. Similar to how $CRO functions for @cronos_chain and Crypto.org chain
$LUNA holders could stake $LUNA on Terra and earn staking rewards at ~7-10% APR.
There is a 21 days unstaking period for unstaking $LUNA on terra. This means that if you are staking $LUNA and want to unstake $LUNA to sell on the market, you can only do so after waiting 21 days.
There is a 21 days unstaking period for unstaking $LUNA on terra. This means that if you are staking $LUNA and want to unstake $LUNA to sell on the market, you can only do so after waiting 21 days.
Here's the problem:
In the scenario of a flash crash like what happened this week, all of $LUNA stakers were not able to unstake their $LUNA to sell and get out of their positions.
This scenario was made different for liquid staking $bLUNA and $LUNAX
In the scenario of a flash crash like what happened this week, all of $LUNA stakers were not able to unstake their $LUNA to sell and get out of their positions.
This scenario was made different for liquid staking $bLUNA and $LUNAX
Users who staked $LUNA though $bLUNA and $LunaX were thus able to liquidate their liquid stake $bLUNA or $LunaX immediately in the market and get out of their staked position INSTANTLY.
This is the beauty of liquid staking and why you should stake $CRO via @ArgoProtocol
This is the beauty of liquid staking and why you should stake $CRO via @ArgoProtocol
If you are a $CRO staker on the crypto.com App or Crypto.org chain, you will not be able to liquidate your staking position in a crashing market due to the 28 days lock-up.
Here's where @ArgoProtocol liquid staking changes the game with $bCRO
Here's where @ArgoProtocol liquid staking changes the game with $bCRO
With Argo liquid staking, you stake your $CRO and receive $bCRO.
If in any scenario you want to unstake your $CRO, you can do so INSTANTLY by taking the $bCRO and selling it on the market
If in any scenario you want to unstake your $CRO, you can do so INSTANTLY by taking the $bCRO and selling it on the market
The benefits of liquid staking are highlighted this week.
What does it mean in terms of $CRO?
- Argo creates instant liquidity for your $CRO staking position via $bCRO
- Arbitrage opps. will be available to purchase $CRO at a discount via $bCRO in periods of flash crashes
What does it mean in terms of $CRO?
- Argo creates instant liquidity for your $CRO staking position via $bCRO
- Arbitrage opps. will be available to purchase $CRO at a discount via $bCRO in periods of flash crashes
We are nearing the finalization of our audits and are rapidly running QA tests to optimize user experience.
We will be assessing the market volatility to decide on the optimal time for $CRO liquid staking to go live. Further updates on this soon.
Stay safe #crofam 💧
We will be assessing the market volatility to decide on the optimal time for $CRO liquid staking to go live. Further updates on this soon.
Stay safe #crofam 💧
• • •
Missing some Tweet in this thread? You can try to
force a refresh
