In summary, Terra VIPs like @stablekwon and @stablechen have created the perfect staking island for themselves where they have been earning jaw-dropping farming rewards unencumbered via insider trading, tokenomics adjustments, and barriers to entry. It's been 3 whole weeks.https://twitter.com/FatManTerra/status/1531706444780912641 …
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Again you are missing the bigger point - they can determine the swap tax fee and impose up to a 100% tax on any outside mint/burn to recapitalize the Terra 1 network
Are they doing that though? For now I'm only mentioning what they are actively profiting from, not what they might do in the future
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No. why would an outside syndicate recapitalize LUNC-USTC when LUNC governance is completely broken? They are keeping it broken so they can launch a new algoshitstable on Terra 2 where they have much higher ownership
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Considering that the LUNC rate has fallen thousands of times since then, what is the income of these people? Hope for the APY and a return of value?
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No, LUNC is up over 10x since then - remember the insider trading? They can withdraw all of their staking rewards as well. They've printed a ton of money from this pool (only accessible to them) and will continue to do so as long as the chain is running and accruing fees.
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