They have about $330m left. They will look to reimburse small UST holders with the crumbs that are left over. This amount should still be enough to refund a large proportion of savers, but the cap will be extremely small. (2/4)
Show this thread
Unpacking the latest LFG announcement.
- They plowed about $1b of the Bitcoin reserves into UST exit liquidity for whales who were cashing out of Anchor
- They plowed about $500m more into LUNA liquidity to support large cashouts (the LUNA is now worthless)
-
-
-
UST will likely now go down to levels reflecting the new backing amount, which was not over $1b but far lower than some people expected. Given that most of the reserves are in UST, there will also be some expected sell pressure that will cause traders to antipicate a dip. (3/4)
Show this thread -
Some questions: - Why did TFL plow more money into LUNA when they knew it had entered a death spiral and were actively encouraging it to be minted even faster? - When providing exit liq for UST/LUNA, did they specifically help any VCs/friendly groups? Who executed trades? (4/4)
Show this thread
End of conversation
New conversation -
-
-
Yea this isn’t good at all. Probably the smallest wallets holding like 20k or less may see some money (made up the 20k figure but referencing it will be the smallest of wallets only) Now what?
-
I guess much less than 20k not even 10k probably
- Show replies
New conversation -
-
-
This is bad news and really why the hell they bought 500m worth LUNA???
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Your proposal couldn't be implemented, because the very low amount of funds. Only 10k$ and below wallet will be refunded, if lucky.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
what happens fudn to TFL holding?
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
It is an absolute disaster but if small fishes can recover 5-10k$, I'd be happy for them. As a "bigger fish", I can only wait longer to see what will be proposed. At this point it is pretty delusional to make such a statement but ... I'll be looking forward to see
$UST repegged. -
It’s not going to be re-pegged! If they use the reserves to pay out, then there’s is nothing to back up the peg. It’s dead and
@stablekwon will go to jail - Show replies
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.