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UST fiasco is very fishy. - Terraform Labs removed $150m of UST liquidity from Curve yesterday - 1 minute later, a freshly funded address bridged $84m of UST to Ethereum (Initiated bridging before TFL removed liquidity) - 4 min later, it dumped the UST, triggering the sell-off

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Do Kwon

@stablekwon

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@Mudit__Gupta

- We removed 150M UST from Curve to get ready to deploy into 4pool next week - 84M dump not us - lmk if you find out who - After the imbalances started to happen, we removed 100M UST to lessen the imbalance Obv TFL has no incentive to depeg UST

2:55 PM · May 8, 2022Twitter Web App

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And there you go.

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Source? /s

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Yes. TFL has no reason to trigger depeg or reduce UST liquidity.

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Let's go! There's no founder as loud as you

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great dill

dcbuilder.eth @ Berlin

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#thread #security #Terra #stablecoins #UST #onchain #defi

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when you say that you removed the balance…is that automated or is that manual? Just trying to figure out how this works

0xMoves

@0xMoves

May 8

On Curve you can select the token you want to remove LP for. So they pulled 100% UST from their LP position., thus making the overall pool more balanced (less UST in there now).

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and

Cope is real i see.