Conversation

Do Kwon 🌕
@stablekwon
1/ The LFG Council just voted to deploy 1.5B in capital (0.75B in BTC, 0.75B in UST) to allay market concerns around UST. Some more context on why and how:
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LFG | Luna Foundation Guard
@LFG_org
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1/ Over the past several days, market volatility across crypto assets has been significant. The market turmoil is also reflected by the past week's uncertain macro conditions across legacy asset classes.
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@Quant_111
How is this "decentralised" ? If it needs the intervention of a small group of people who decide Or maybe I'm just getting it wrong ?
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Do Kwon 🌕
@stablekwon
twitter.com/stablekwon/sta Your right - market tanked before systems were ready, so this would be intervention
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Do Kwon 🌕
@stablekwon
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4/ We had hoped that the onchain bitcoin reserve system would be live by the time the Terra economy would contract, thereby obviating the need for LFG discretionary intervention Spec here: agora.terra.money/t/bitcoin-rese
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natural9_trader
@nat9crypto
Why do you feel like an intervention is needed before a decentralized solution is ready? do you feel like the EV of a centralized solution outweights the potential of further damage to UST price?
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natural9_trader
@nat9crypto
Replying to
@stablekwon
and
@Quant_111
if you think market nuking will drag down UST price, then does that mean you think UST is foudamentally not designed to for crypto nuke? ideally,UST should be built in to withstand vol switching to BTC is a fine solution, also a bailout saying LUNA backed UST "not always work"
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synthwavecapital.eth
@SynthwaveManaic
I hate this circular logic you guys do. > UST will be affected in bear market conditions >> We have implemented these safeguards into the concept to prevent that > Ah, so UST can't survive without intervention You can't have algo stablecoin without systems in place to keep peg
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