nytimes.com/2022/12/07/bus…
I think the time has come for @GenesisTrading to reveal if they provided the $1B UST shortly before the crash to SBF or Alameda - the purchase from LFG was represented as stemming from “interest to participate in the Terra Defi ecosystem” - not to provide ammo for a peg attack
Nov 20, 2022 • 14 tweets • 2 min read
Cosmos chain core teams interested in Station integration pls send DM
Its ofc free
Nov 16, 2022 • 13 tweets • 3 min read
1/ A third party audit of LFG and TFL's peg defense activity during May 2022 has been published:
Many of you lost a lot of money in UST - for this I am sorry. While the system was transparent and open source, _I_ as its creator should have understood and communicated its risks better.
Nov 3, 2022 • 4 tweets • 1 min read
Alright ill throw a meetup/conference soon to get over this in hiding bs
Cops from world over welcome to attend
🔫 pew pew
Sep 17, 2022 • 5 tweets • 1 min read
Dear CT - I will tell you what i am doing and where i am if:
1) we are friends 2) we have plans to meet 3) we are involved in a gps based web3 game
Otherwise you have no business knowing my gps coordinates
Really don’t understand why otherwise would be true - think about whether you would be comfortable with the same level of invasion of privacy for yourself
Jun 18, 2022 • 4 tweets • 1 min read
Only hold beliefs that will stay constant at 5 digits or 1
Be the change you want to see
The last month for crypto has lessons that will power the rise of the next gen of builders to great heights
Jun 12, 2022 • 5 tweets • 1 min read
1/ This should be obvious, but the claim that I cashed out $2.7B from anything is categorically false
2/ Two contradictory claims seem to exist where:
1. Do’s wallets are doxxed, and he still owns most of his luna through the airdrop 2. Do dumped all his tokens to make billions
A lane should ideally be picked
Jun 9, 2022 • 7 tweets • 2 min read
1/ While most of our efforts had been spent on Terra 2.0 and making sure ecosystem developers can find a home after the depeg incident, we will soon be more proactive in communicating with the press & getting the right information out there.
2/ There's a lot of misinformation and falsehood out there, and we promise to do our part in making sure as much of it is correct as possible.
A few tips to help us engage:
May 18, 2022 • 5 tweets • 5 min read
1/ Terra governance prop #1623 to rename the existing network Terra Classic, LUNA Classic ($LUNC), and rebirth a new Terra blockchain & LUNA ($LUNA) is now live.
1/ Terra is more than $UST
2/ It has been inspiring to partake in the dynamic discourse regarding the best next steps for Terra. Taking feedback from the community and thoughtful proposals, I would like to suggest the following for the path forward.
1/ I’ve spent the last few days on the phone calling Terra community members – builders, community members, employees, friends and family, that have been devastated by UST depegging.
I am heartbroken about the pain my invention has brought on all of you.
2/ I still believe that decentralized economies deserve decentralized money – but it is clear that $UST in its current form will not be that money.
May 11, 2022 • 14 tweets • 3 min read
1/ Dear Terra Community:
2/ I understand the last 72 hours have been extremely tough on all of you - know that I am resolved to work with every one of you to weather this crisis, and we will build our way out of this.
Together.
May 9, 2022 • 9 tweets • 3 min read
1/ The LFG Council just voted to deploy 1.5B in capital (0.75B in BTC, 0.75B in UST) to allay market concerns around UST. Some more context on why and how:
$UST is just a derivative of $LUNA - building $UST inventory via $LUNA as the intermediary has strictly worse slippage costs.
The example you posted is not only impossible (will explain shortly) but is fundamentally more expensive than just shorting
@FreddieRaynolds@GrayeWilliams@stabletuna 2/ Demonstrative example:
Buying 100M worth of Luna (slippage cost) --> Selling 100M worth of Luna (slippage cost)
Your PnL in steps 1,3 are disingenuous as price up as you buy 100M worth
Expectation of 30% gain while *selling Luna* doesn't even make sense
Bullish selling?
Nov 20, 2021 • 11 tweets • 3 min read
1/ For the extremely impatient lunatics on my timeline, a digestible explanation as to why the Luna burn is value additive to @terra_money (hint: it's not increasing UST marketcap):
2/ First, it creates *billions* in cashflows for luna stakers over the next 2 years and makes Luna a highly countercyclical asset.
After col-5, all swap fees for burning Luna to Terra get paid out to Luna stakers spread out over 2 years.
Sep 1, 2021 • 10 tweets • 3 min read
1/ What is Terra? 🧵
2/ When I started @terra_money in 2017, I was surprised to find that the crypto"currency" industry was mostly working on building 1) niche apps or 2) better servers (making Ethereum faster) and almost noone working on building better currencies
This is still true today
Jun 18, 2021 • 13 tweets • 3 min read
1/ My thoughts on @IronFinance and building new algo stablecoins 🧵
2/ First, I am only writing this post due to high demand for commentary from the Terra community.
I've staked everything on the success of algo stablecoins, and have no intention of capitalizing on others' failures.
We're all in this together - once again, reach out for help.
May 23, 2021 • 18 tweets • 4 min read
1/ It’s interesting that cockroaches only come out when the night is darkest.
This thread should help you understand what’s been going on & how the protocol(s) have responded recently:
2/ The Terra economy continued to be put under extreme test, with both Terra and Luna undergoing sharp contractions. Remember that idiot in the tg rooms that used to ask “well, what if everyone starts selling stablecoins and Luna at once?”
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