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The Terra UST stablecoin could collapse in a bank run effect. UST is backed by an endogenous collateral Luna. Current Luna marketcap has fallen to arguably < outstanding UST. We are now in a dangerous spiral: as users panic out of UST, this reinforces the Luna crash further.

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Do Kwon

@stablekwon

Replying to

@aklamun

Most importantly, Let's see what happens.

8:07 AM · May 24, 2021Twitter Web App

Replying to

and

Exactly the sentiment we want to hear for our "stable" coin

bleeker

@__bleeker

May 24, 2021

Read the other message. Do posted explanations on this thread & on his page. Taking this other comment out of context doesn’t help. This is clearly a nod to the naysayers who are quick to try to tear down things down while having limited understanding of the mechanics.