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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

May 8

- 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

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Do Kwon

@stablekwon

May 8

And not sure what possible profit would have been gained even if we tried - 50bp spread on UST while luna giganuked?

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Mudit Gupta

@Mudit__Gupta

May 8

Can also make money from luna nuking :)

Do Kwon

@stablekwon

Replying to

@Mudit__Gupta

Not sure how we could enter a short luna position enough to cover like 20B dollars

3:05 PM · May 8, 2022Twitter Web App

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Erica the blogger, you are needed here

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and

Luna price is up

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aren't luna bid side books supposed to back 20b of ust marketcap tho

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20B dollar of paper loss but not real, given the Luna liquidity in the market. If you even try to exit that much of Luna, it would become worthless very soon. This could have been a smart way to slow exit but I don't think you/TFL did it.

Maester Trader

@maester_trader

May 8

So what are you suggesting is very fishy?

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and

The rich will always be richer.. the poor will only get poorer lol realised that today when I got liquidated off luna. A years work wiped in 24 hours. Shit happens. Back to 9-5 ;)