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The Stablegains saga continues... "SFYL guys, we're shutting down; I know we put your USDC into UST without making proper public-facing disclosures... Oh, the $4m we made? We're keeping that. Oh, you want the LUNA drop from our UST wallet? I think we'll probably keep that too."pic.twitter.com/TFhon8jjYa
Stablegains should really try to reach out to LFG to try and become eligible for the small holders UST refund for exchanges. This is a quasi-exchange setup and users could qualify for something if Emil pushes for it. Abandoning everyone and closing up shop will prove expensive.
Reality is, $80m divided by any amount above 1bn you are better off selling. Would need to exclude 90% of UST to get any real value back
LFG funds are too small. Let them get sued and pay with their own pocket, and not use LFG funds. They did everything wrong.
Is the small holders refund only for investors eho hold on an exchange? Or will people who hold in TerraStation or on Anchor also be included
Yeah no idea ? They set what a small wallet is ?
Do you think holding ust on polygon would be consider for that refund ?
But…that’s a lot more work. He could get paid more if he just bails on his customers now and finds the next project to marginalize profit from. [sarcasm]
They probably had all their funds pooled into a few large wallets so their payout will be capped. This is why all these schemes to pay wallets up to a certain size are flawed. 1 wallet != 1 person. Not that it matters considering the amount of money that’s left.
Has @FTX_Official reached out to LFG and become eligible for small UST holders refund? Supplied details of small wallets?
Thank u @FatManTerra for continuing to follow and keep a lens on this story. Us SG users appear to be completely hosed.
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