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Confidence is important in any capital flight episode and is an excellent leader in this regard For now LUNA must fill a $300mm hole w/ hard currency in the CRV pool That will likely come from BTC sales This represents ~8% of LUNA's accumulated BTC to date
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Agree that spending $300mm to get peg form .995 to 1.00 is a bad return on capital Hope you're right re market working itself out
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