3min chapter

Crypto Critics' Corner cover image

Terra, Luna, and Algorithmic Stablecoins

Crypto Critics' Corner

CHAPTER

Why Do So Many People Believe in Terraform Labs?

With a guaranteed 20 % yield on a stable coin, you can convert any of your other stable coins to terra pretty easily and then lend it out. Besides that, the subsidized anchor ate isn't just benefiting people who use it directly. The price of luna piqued at over 100 at one point. So v cs who got into this early had like a hundred exa or 500 x return already on their investments. And so for them, they've made this massive amount, but they can't exit 26 % of the supply at that price without getting enough other people interested in the system,. Right now da quan is literally like buying off communities. He announced first with the l

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