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.
Would urge users, exchanges, and partners of #Terra ecosystem to proceed w/ utmost caution.

What can be worse than dying a painful and agonizing death, crippling people in many parts of the world?

Re-living the event, several times, w/o changing things & w/ same mad conclusion.
(wrote this initially on Thursday, as shared during the Elrond Townhall; but think it's very much worth restating given revival plans)

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Beniamin Mincu 🔥🌓

Beniamin Mincu 🔥🌓 Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @beniaminmincu

May 16
A storm is coming.

It's time for Elrond $EGLD to take its rightful place🔥

⚡️Grand Bridge
⚡️NFT Marketplace
⚡️MEX Listings
⚡️MEX Economics Upgrade
⚡️Utrust UTK 2.0
⚡️New Launchpad Project

⌛️New Launchpad Platforms
⌛️New DEX Platforms

Momentum superwave, 1st tipping point ->💣 Image
Systematic, differentiated, unstoppable expansion.

⌛️Startup explosion
⌛️Instrumental business integrations
⌛️Institutional inception
⌛️Governmental adoption

⏳Stablecoins
⏳Lending
⏳Cards
⏳Maiar 2.0

Momentum superwave, 2nd tipping point -> 💣
💥Re-genesis moment💥

Biggest end game moves -> Phase transition ->
Game reconfiguration.

Momentum superwave, 3rd tipping point -> 💣
Read 4 tweets
Apr 2
1/ ON LAUNCHPADS, LISTINGS, GOALS, AND OPPORTUNITY MAXIMIZATION

What's next for the launchpad?
And what's next for @Itheum?

Exciting road ahead.

Mega thread. 🧵
2/ MAIAR LAUNCHPAD PURPOSE

Before talking about listings, let's briefly touch on the launchpad.

What's our goal for the Maiar launchpad?
3/ We back determined teams, solving hard problems, with global impact.

*Creating a special forces program of sorts for blockchain startups.*
Read 63 tweets
Feb 16
1/ Today is a big day for Utrust and Elrond.

It is the day we present a new economics model for UTK 2.0. One designed to reshape payments, putting Utrust, its community and merchants at the epicenter.

Time to enter the next level.
2/ First, let’s set the context.

Growth is the most powerful force for alignment.

With enough growth, everything -- literally everything -- falls into place.

Growth is the reason Elrond is joining forces with Utrust.
3/ There are two fundamental views on how one can achieve growth: zero sum vs. non zero sum.

One focuses on just taking away other people's pie.

The other focuses on unequivocally growing the pie to the largest extent possible.
Read 39 tweets
Dec 23, 2021
1/ Here's an important update for the Elrond and holoride community.

We've been working hard to find the optimal solution for the challenges we've seen the last week.

After several discussions, here's the best proposal for the next steps.

Plus a powerful new growth program.
2/ There are 2 challenges we're addressing, and one powerful new program for future community growth.

Let's take the challenges and their solutions first.
3/ Challenge 1: initial buying/selling confusion.

A lot of people buying during the first hour after listing, have been at a disadvantage.

With buying pressure super high, and immediate unexpected selling pressure coming in, some were caught in between.
Read 19 tweets
Dec 18, 2021
1/ The RIDE listing has been a painful and instructive lesson.

Very difficult and heartfelt.

But as many times before, we will find a way to solve things, and see the light again.

All focus has been on carefully investigating what happened, and defining important next steps.
2/ The problem as expressed by many in the Elrond community is that the RIDE listing was somehow an unfair game.

Unfair because of some perceived advantages, or disadvantages, that lead to unfavorable outcomes.
3/ In Elrond, we've put a lot of thought into creating better and fairer opportunities that are available equally to all of the community.

This has been the Elrond spirit.

It's why the Elrond community wields unparalleled strength in this space.
Read 27 tweets
Dec 6, 2021
1/ Some great news.

The Maiar DEX solution is now ready, and in review.🛠️

It's been a few hardcore days, but it's going to get a lot better.

Here's a short update on the current status, and important improvements for the next steps.
2/ First, the bug fix solution is ready, and there are 3 threads for validation and heavy testing:

1 - internal peer review for the solution
2 - external peer review for the solution
3 - empirical validation via 1 day Battle of Yields competition
3/ Calling all Farmers: Battle of Yields begins today at 18:00 UTC 👨‍🌾🚜

All participating addresses that interact with the testnet exchange according to the instructions will share MEX rewards from a $15,000 USD prize pool.

Join the event at t.me/MaiarExchangeA…
Read 8 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

:(