If you're ever feeling down or angry at yourself about UST/LUNA, don't beat yourself up too much over it. It was highly sophisticated deception. A lot of brilliant minds fell for it. For example, Three Arrows Capital bought 10.9M locked LUNA for $559.6m - it's now worth $670.45.
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It is speculative because there has never been a stablecoin of its kind that worked. There was no reason to assume this could not happen to UST. It had already depegged once before—all it took was someone/a group of people with enough funds to exploit a built-in mechanism.
There is no compelling evidence that there was an attack BTW, you are being fed a narrative
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The reason for the depeg is neither here nor there. The point of my comment is that storing funds in an algorithmic stablecoin comes with inherent risk. Algorithmic stablecoins are an experiment in an already experimental sector (crypto). Experiment squared.
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