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2/ The most important function of cryptocurrency has been that of currency - a function best captured by the stablecoin.
If other assets play the role of equities of various disparate ecosystems, the stablecoin plays the role of money - forming liquidity, savings, and MoE.
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4/ A bet on the moon is very simple:
- it goes up in value (inc. scarcity) the more Terra money is used
- it goes down in value (inc. dilution) the less Terra money is used
The moon's fate in the long run is tied to how widely the money gets used and transacted.
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5/ In a vacuum, usage could go either way - but what we've witnessed is that LUNATICs have rolled up their sleeves to build products that make Terra stablecoins more useful.
Dozens of protocols incoming - @spar_protocol, , kash, all early examples
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7/ Of course, this is crypto - and in the short term, prices will fluctuate.
I claim this is a good thing in the long run - $Luna will eventually become an NFT, and I plan to be the last whale holding one whole Luna.
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8/ But in the long run, $Luna value is actionable - it grows as the ecosystem grows.
As a holder of the π, you then have three choices:
- Sit back and watch me kick ass
- Take profits and buy un-valuable assets
- Or you can roll up your sleeves and build cool shit
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9/ I've said before that what we've built so far make up the MVP of terra stablecoins - it's just a demo.
The full product suite is just going to melt faces, and it is the great honor of my life to be building it with you all on the moon.
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