Furthermore, This 1b stability reserve (of which only 300m was ever used) was NECESSARY for the existence of Terra! While Luna price was subcent at launch, there was mathematically no way to burn 100M Luna for stablecoins! This vesting was required to bootstrap stablecoins.
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When it was no longer needed, TFL burned it...
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2. Not sure why you would trust coinmarketcap data for anything other than exchanges. Volume for KRT has been $5M USD - $10M USD throughout Terra's history. Even up in may when chai was no longer affiliated, was $5M USD.pic.twitter.com/9uD58Re0ya
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Either way, calling onboarding users to KRT is wrong. You misunderstood the Chai graph you showed... User sends KRW to Chai account, TFL gives user KRT, the user pays store with KRT, store cashes out KRT for KRW TFL had. So...
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Unless you have --- ANY proof of a store not being able to cash out to the magnitude of $150M (the number you claimed), then shut up.
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3. TFL does have ZERO wallet labeling. Wallets used for Market Making double as Project Dawn pass-throughs, TFL wallet also used to custody VC/CEX Luna, employee vesting mixed with other random wallets...
@FatManTerra there is definitely space for malfeasance here1 reply 1 retweet 26 likesShow this thread -
Do even promised the label+segreagate wallets back in Feb-2021 but they never did!
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But this post just makes it harder for those of us trying to get real answers. Because sensational posts make it harder to spread knowledge, not easier.
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Replying to @pedroexplore1
Brief reply: - Public misrepresentations matter, check out the article: what you convey to investors is important. Most people did not know about the pre-mine. - Terra only burned the rest of the SDT when they were called out on it
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Replying to @FatManTerra @pedroexplore1
- The Chai laundering definitely happened, it was corroborated by multiple TFL insiders to me directly, and they tried to hide it by wiping the explorers
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Oh, and this can be done by setting up shell businesses/stores as well - the spikes in volume are quite clear
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