In one of the calamitous events in crypto memory, the $40 billion Terra ecosystem collapsed last week when the UST stablecoin — which is supposed to b
In one of the calamitous events in crypto memory, the $40 billion Terra ecosystem collapsed last week when the UST stablecoin — which is supposed to be worth $1 — dropped below 20 cents. The LUNA token, which is designed to serve as a sort of shock absorber for UST’s “algorithmic” dollar-pegging mechanism, crashed from $80 to below $0.002.
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