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$UST with $10B+ in $BTC reserves will open a new monetary era of the Bitcoin standard. P2P electronic cash that is easier to spend and more attractive to hold #btc

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Adam Back

@adam3us

Mar 22

where is the $10bil coming from?

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Do Kwon

@stablekwon

Mar 22

It's not 10B today - as UST money supply grows a portion of the seigniorage will go to build BTC reserves bridged to the Terra chain We have 3B funds ready to seed this reserve, but technical infrastructure (bridges etc) is still not ready yet.

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Adam Back

@adam3us

Mar 22

Where did the $3bil come from. Is that real or thin liquidity premined / ICO tokens, that can flash crash to zero on am automated market maker if collateral gets stressed.

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Do Kwon

@stablekwon

Mar 22

Also with all due respect sir, I would not describe Luna's liquidity as "premined / ICO tokens, that can flash crash to zero on am automated market maker"

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Alltheway08

@alltheway08

Mar 22

If you can convince Adam that Luna isn't a scam you've won CT

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I'm fine with him thinking it's not an attractive asset (subjective judgment call) But saying it is not liquid (#6 largest asset, ~3-4th most liquid usually) is just factually wrong

3:14 PM · Mar 22, 2022Twitter Web App

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