You mean you guys didn't sell the top? Oh jeez...
🧵 Some of you thought $80m per month was bad. That's nothing. Here's how Do Kwon cashed out $2.7 billion (33 x $80m!) over the span of mere months thanks to Degenbox: the perfect mechanism to drain liquidity out of the LUNA & UST system and into hard money like USDT. (1/13)
Now that dis is done and dusted, shall we dare to ask our dear @SBF_FTX how much FTX pocketed from trading fees these past ~2 days? <3
FTX will delist LUNA-PERP on May 13, 2022 at 4:45pm (UTC).
Please see details here: help.ftx.com/hc/en-us/articl…
I cannot possibly read all your tweets about "the peg" and not chuck a little on the inside.
5. I am very disappointed with how this UST/LUNA incident was handled (or not handled) by the Terra team. We requested their team to restore the network, burn the extra minted LUNA, and recover the UST peg. So far, we have not gotten any positive response, or much response at all
I think we ought to snapshot LUNA pre-crash and offer a BSC equivalent token to everyone that had any holdings before UST peg broke.
I think that makes the most sense compared to the ideas outlined here. At the very least the price would be more stable than that of UST.
The community is deciding on a new @terra_money, between restoring a snapshot prior to attack, removing TFL, fully collateralizing UST and drafting & deliberating new mechanisms for $LUNA.
We must salvage the remaining value in the ecosystem & community and rebuild the right way
