Conversation

Do Kwon 🌕
@stablekwon
The Luna Foundation Guard does indeed build btc reserves when UST demand is in excess of UST redemptions - this is explicitly stated.
4
557
Do Kwon 🌕
@stablekwon
To suggest that this is “Do’s exit liquidity” is disingenuous on two levels: 1. LPs only benefit from LFG activity - reserves are deployed to buy if there are more ust in the pools, and replenished when theres less ust - and LPs earn fees while doing this 2. LFG is nonprofit…
5
272
Do Kwon 🌕
@stablekwon
To call the practice of building reserves exploiting exit liquidity is identical to saying all defi is exit liquidity for usdc to build those goddarn 100% usd reserves Let’s not stoop to clickbait, thanks much
8
336
0xHamZ
@0xHamz
It's a fair interpretation to say the opening comment is more bark than bite. It was probably more wise to write 'The plumbing of how LUNA is buying BTC'
8
71