Topic: RIP LUNA & UST ! Is USDD be same like that.. (Read 661 times)

Both UST and USDD are decentralized algorithmic stablecoins, so they are equally vulnerable. The difference between USSD and UST is only that its capitalization is much smaller and, accordingly, the team of this stablecoin has more chances to restore the peg to the dollar by buying back excess coins from the market.

I think that LUNA will no longer be able to recover and the chances are very small, so if you expect that to happen I think you will spend your funds to survive and buy it wait until it will increase again.
by making changes with updates, it is seen that the market still cannot accept the fact that the initial price immediately fell drastically. it takes hard work to give confidence to investors to be able to accept it again and it is not easy.

I'm holding a little USDD not too much, I think maybe Justin calculated the risk for USDD seeing how UST collapsed. even though USDD's market cap is not as big as UST but if it crashes it will cause extreme panic in the market and people will leave the market. The current situation is not too serious so let's stay calm but always be ready because things in crypto are always unexpected.


It's really dead, if you invest in it and hope it comes back. So sorry to send my condolences to you.

I really can't say USDD is dead like LUNA and UST,
I'm also sure Justin SUN already has a way to prevent USDD and TRON from dying like LUNA coins,
we know the progress and development of TRON, so we have to believe they can overcome that,
judging from the current situation I don't think there is any indication of death like UST and LUNA, so take it easy

Still I'm Afraid about the Future of the  TRON TRX is going through a Crisis same like UST but TRON is managing condition more appropriated as compared to the UST team did if USDD survives this pressure then it can be a great achievement by the team and USDD can be more powered in future.

USDD is Quite better due to better reserve Power and LUNA UST were pegged by Suppply and demand ratio but in case of TRX these coins are pegged but on basis of market value not on supply

Good research their, my thought are becoming clear after reading some points of view of other community members here, well as tron has backup more than the usdd supply, that's why i think it becomes possible.
Lets say, tron got hyped in the next era, but it do need something unique like meta verse project which are not just bluff like reall working projects to help real time people, like meta of facebook is making great progress.

USDD's low is $0.96 and that's nearly out of the range.

I do not trust these stable coins that has got out. Sad to say that you really won't know how long these stable coins will drop and depegged to USD.

If there's one stable coin that I can use, I'll choose DAI instead of these. Stable coins are great help especially when the bull run to save your money and wait until the bear comes.

But, if we keep on seeing lower than the peg of it on USD, you really will lose your trust on some of them.

Sad to say that might not happen anymore.

Luna will be recovered, just a matter of time, the hack was heavy to a point UST lost his role model as a stable coin, as long cryptocurrency market is trending in ecosystem and maybe next Bull run Luna we bounce back, and is a very good position to buy and hold for a long time.

how is TRX a stablecoin?
how is USDD is a better project than LUNA when its just a doing the similar mechanisms, printing new tokens in a unsustainable amounts? I doubt that these scheme can last a year with its current APY, 500M USDD is enough to drain that collateral within a year.

Well, I think USDD is a better project than LUNA and I'm holding some USDD. Overall, it is surprising to see that TRX has been able to remain stable, even at a time when the market is experiencing such a high level of volatility, and it clearly shows that there is still a lot of support for cryptocurrency.

I believe that the hardworking team behind TRX will take the necessary actions for any of their future endeavors. I also agree that even in one of the worst market conditions, USDD can take a hit and recover on its own as it is supported not only by foundations and actually by DIP/TRX holders TOO.

Who knows, maybe in the future TRX could become the number one stablecoin in the market.

but the question is will Justin Sun really going to use his assets to bail people out from the goodness of his heart? I really dont think so, my opinion is the collateral is just to entice people to put their hard earned money while he slowly dumps USDD.
I will assume that if 300m USDD is staked then it prints around 166k USDD per day, i dont think that this will last another month. "this is a pessimistic calculation", i didnt use the 40%APY which hastens the downfall of this ponzi scheme.

Three things for discussion

First of all, Justin Sun is handling it better than Do Kwon. He does not sacrifice TRX to rescue USDD. He is spending real capital to save USDD, not minting more TRX to save USDD. If he does this like Do Kwon, both TRX and USDD will end in hell.

Secondly, we can not ignore that the algorithm for USDD algorithm stable coin is mostly similar to UST and LUNA. So there is risk to see hell again.

Lastly, this crisis does not only relate to collateral. When a bank-run happens, it does not mean only about collateral but it means everyone want to exit. Unfortunately, there is only one exit gate and the pressure of exit makes the gate become too small.

USDD was starting to depeg and justin sun was trying to add more and more collateral to prevent it. The algorithmic stable token was actually failed in this case. USDD may have the same future like UST but the thing that is better than UST was if USDD was also using stable token to backed its token and it's not fully pegged with the tron token. From there im sure that if this token is a bit sustainable compared with the UST in term of value to peg with the dollar.

No one can save Terra or the company itself. They hav dig a hole so deep that not even huge backers from crypto and non-crypto entities can get them out.

As for the predicament of USDD, I do hope that they won't collapse, the people behind should understand that they need to prevent it at all cost. They should learn from the UST debacle, they should have more reserves or at least find a liquid asset that can be hedge as a reserves for them.

Some link if someone interested.

For UST and LUNA holders the best chance might be legal. The chances for UST holders are probably much higher than for LUNA because UST was a stablecoin.
Joining legal action in case of Fatman is free for the victims.  




Legal:
Discord link to Fatman regading legal actions against LFG, TFL and Do Kwon and exchanges
https://discord.gg/k3DPgn9ds6

Some legal background information:
https://classic-agora.terra.money/t/next-steps-for-luna-ust-holders-a-detailed-analysis/22084

Fatmans twitter account:
https://twitter.com/FatManTerra


Besides the possibility to get money back from legal, there is still a small change to get a tiny portion back from LFG. They are however very quiet and the LFG reserve is very small (less than 60million i think, probably less now).

Status of UST refund from TFL/LFG:

The refund from LFG for UST holders seems to be less likely. They are probably only stalling to avoid lawsuits. LFG posted on 15.05.2022 the last time.
Do Kwon posted on 21.05.2022 the last time about the refund (collecting exchange data, refund would be in USDT and USDC)

There are newer post from Fleece Cannon, some TFL person from 12.05.2022
https://twitter.com/fleece_cannon/status/1535732353942687745


Added on 21.06.2022
Seperate singaporean lawsuit:


There is a seperate singaporean lawsuit. The first step would be an injunction against TFL, Do Kwon, ...
For the injunction the laywer fees are between 15000 to 25000 SGD (singaporean dollars) shared on a pro ratio basis on on all claimants.  Currently 1,7 million USD have signed already. With more people joining, the fee each individual gets lower.

Example: If your UST claim is 50000 USD the laywer fee would be only 2,9 percent from the fees. 2,9 percent of 25000 SGD is 735 SGD or 530 USD.

The main focus are singaporean, however other people can join as well (I am from Thailand)

You can contact the laywers directly:

You could contact directly the lawyer here https://www.drewnapier.com/Our-Lawyers/Mahesh-Rai Indicate legal name, UST amounts, date of purchase

 Who is eligible? (UST holders, UST holders pre-depeg, but sold at a loss etc) 
Anybody who bought and hold UST before May 13, no matter if they sold or not after that date 

Here is the discord link for organizing the users:
https://discord.gg/Ef9YYphAPD

its a big disappointment after all tbh, and i hope they didn't sold their bitcoin and use it to save luna and it's now for their reputation as well. Because you know obviously a lot of investors are suffering because of them so they need to do something to fix the situation, hence, if its true that they have funds that standing by, then they need to execute it immediately to save the community and their reputation, i mean no need to wait for more results.

LUNA need to beat Bitcoin marketcap to even reach the level of cents lol. There's no way unstablekwon will be able to do that. This project is officially dead.

Yesterday it was very clear that LUNA will be destroyed and will be delisted by several exchanges if the price continues to fall, and for today I am trying to find it on the Tokocrypto exchange. It turned out that it was true that LUNA was no longer there and the buyers through the exchange were very dear to this day.

The Technical team of Luna already tried  to fix the issue by merging new code last night but it didn't work out so this morning they have halted their network. I think the founder of Luna its team is committed but when we look at current supply of Luna which is in circulation stands now more than 6 Trillion due to non-stop minting of Luna coin. I don't know how they will manage to reduce this huge supply while maintaining its peg with UST. Let's hope that some miracle happens and price of Luna starts recovering.

I do not think that it is RIP just yet. I know that it looks like it is not doing well, and I have been part of plenty of algorithm based stablecoins before last year, like SBDO/BDO for example and they dropped and never recovered neither.

So, I have to say that this may not end up recovering as well and I wouldn't be shocked about it, I mean it will probably be fine but I am guessing that it will not be that much of a big deal in the end even if this falls. However, the chances are, there is a small chance it will end up winning as well and I am guessing that it may end up profiting and going back to 1 dollar again helping Luna to get back to 7-8 dollars at least as well.

i'm not sure and don't want to speculate that USDD will collapse, but LUNA and UST right now are really hitting us all. In fact, in less than a week, the price of LUNA fell from $85 to $0.18. this is really a bad drop considering how many assets their team holds. even the stable coins they made are not stable anymore. after that the addition of a LUNA delist from binance made the price push fall even more. however, it's been a very bad decline this year. I hope this is the worst, and prices start to recover.

So far USDD is doing well, but I'm sure what happened with UST and LUNA makes everyone think with similar coins. USDD is also a stable DeFi coin, of course there are indications something similar could happen again, but as long as that hasn't happened I hope everyone can put it to good use. What UST experienced may also be carelessness on their part, because so far I haven't heard of this happening because of hackers, but it makes more sense if there was something wrong with the team they did.

Stable coin but the value dropped half of its actual value then there is a fundamental error in the project or we should not call it as a stable coin, I got a notification from coindesk or something about LUNA drop and it looks like the coin will die soon because people will be selling it more and more to save from further loss which will lead to chain reaction of selling.

The actual stable coin should be pegged with something either fiat or by smart contracts so the value of token supposed to not to fall at any circumstances.

I worry what happened woth Luna and UST coin have impact later with USDT as stable coin. Looks crazy with IST as Terra stable coin drop from $1 become $0.3 although right now have rewch good price above $0.7. Investor worry with saving USDT as digital cryptocurrency asset after seeing how drop price from UST, but most crazy thing when getting Luna coin drop to $1 from $100.

Luna's movement shocks some people who are all in, but gives advantages for those who play short
Luna's reputation is on the verge of collapse I don't know what will happen next
i can only lament the fate of luna pray that i don't go crazy because of luna
RIP LUNA

Currently the team is trying to recover from the situation, especially with the fall in the price of BTC which is currently experiencing a very sharp decline so there is a lot of panic in the market and if we are observant and can take advantage of this moment we can get high profits, as we see Currently UST has recovered its price to 0.7$, although yesterday it had dropped to 0.3$, proving that Terra Luna is still very ready to face this situation.

This drop of Luna definitely indicates that there is a big problem with stability somewhere. After such a steep rise, such a steep fall has seriously damaged Luna's reputation. In my personal opinion, I don't know what will happen over time, but after this time, I honestly do not trust Luna at all and will definitely not put it in my basket. But it is also a seriously loved cryptocurrency by certain groups and countries. It is a crypto currency that should be avoided after this time.

maybe i guess luna can't bring back a life that has lasted so long. The founder of the coin must have felt that his name was tarnished by investors, well, even if there was an error, this could certainly be a lesson for the founders. What comes to mind are the true big Luna investors who are likely to risk big losses in the last few days

Looks like a massive constructed & planned out ponzi scheme. I feel sorry for anybody who invested significant money into this scam. This is the crypto food chain though, some people need to get burnt to realise bitcoin is the most trusted, reliable coin.

I dont think it is end for Luna and UST, I think it is unique and great chance to make money, but very carefuly!

I saw ust going to the great position again is that possible to do things great by team again i saw everybodys broke heart and i also lost more in luna todays dip can it be again go up like before? I think team working behind ust more stable!!

Everyone should be more careful now with their stable coin as a choice. What's safe is bitcoin, yes the price changes but its value remains the same.
As in the whole market, bitcoin is still the best option if you're going to keep your money on it for a long time. There won't be any potential rug pull or any manipulation that will happen. In market speaking, there will always be manipulation but if it's about standing in the test of time, bitcoin has been tested.

Not a few of us are affected. This is not a problem for the Luna team, but a group of people who have planned adult benefits to attack the Luna ecosystem from the start. I found a tweet that simulated how Luna was made to break up until this bad. This is only speculation that tries to be analyzed by one of the Twitter users who made chronology at the beginning of the Luna disposal process on a large scale. The goal is not only to drop Luna but indirectly they also really want to reduce the price of Bitcoin.

https://twitter.com/4484/status/1524006086147252227

Really something very surprising! Because I am in the crypto world for a long time and was surprised to see the stable coin experiencing rugpull,
of course it made me afraid to save the next USDT or USDC, because of this incident, I am sure everyone in this world will also think that way

FUD news about stable coins can make them lose value in a short amount of time but the case of Terra backed up by Luna is different. I totally agree no stable coins are true to its 1:1 peg all time, 24/7 but Terra with unrealistic algorithmic between its stable coin and Luna is completely stupid. This is just the start of overhype coins that think they can start to mint their own stable coin which is even more unreliable than stable coins that promise the real USD or by exchanges.

It can happen with any stable coin not only with algorithmic ones, we have witnessed price of USDT declined to $0.57 in the past so every stable coin is vulnerable. I think we should hold mix of all stable coins including USDC which is considered most secure because it is  redeemable on a 1:1 basis for US dollars, backed by dollar denominated assets held in segregated accounts with US regulated financial institutions.

https://help.coinbase.com/en/coinbase/getting-started/crypto-education/usd-coin-usdc-faq

What happened to LUNA and UST today is a good example of how no stablecoins is reliable, especially algorithmic ones that are backed by a native token. Now other similar scenarios could happen with other stablecoins. For example, Tron foundation said they will allocate $2 billion to support USDD, due to today's LUNA events.

Terra who got an ATH of around $119 is now at $2.60. Also take note that this downfall happened around 5 weeks after LUNA got its ATH.
On the other hand, UST who is supposed to be pegged with USD just de-pegged and now its price is around $0.47.

I just don't know if LUNA will come back after what happened to them unless the developers will make a effective solution to their problems as well as putting UST to be pegged with USD again. On the other hand, what happened to them will make investors to think twice or thrice to whether they will invest into this token or not. I'm not holding any of them but its quite unfortunate to see a coin going down in just a few weeks. Very unfortunate to the investors as well who bought this coin at its peak or near its peak.

I don't think it can come back, this could be the end for Luna and UST. Luna's death will be a blow to the bitcoin market, and as the market continues to crash, we're back into 2018 massacre season.

Luna's demise had a huge impact on overall market sentiment, investors are concerned about the riskiness of altcoins. BTC is down a bit but altcoins are still bleeding, it's a withdrawal from altcoins. Maybe the market will continue to crash, take a closer look before taking this as a buying opportunity.

This token is dead right now. Terra foundation is selling all of assets on its portfolios in a big loss started from bitcoin avax and many more to defend its peg but it's actually fail as they are selling in a big loss. that means this foundation has no enough money to back the remaining UST that available in the market. That's why people are using UST as a way to cash out through terra luna. More UST burn and luna minted from the contract. The worst thing this day

This FUD with UST and LUNA is the main driving force now for other crypto to decline and just by posting this reply the LUNA token is at a dollar below and 30 cents for UST. What could be worst? Just this time Bitcoin hit 29k too, though it's still above the line from the recent low that hits in July of 2021. Oops, is it a bear month or a FUD month?

what happened with UST and LUNA makes everyone afraid to follow DeFi which is based on Stable coins, it would be better if it was USDT or USDC even though they don't promise big returns but at least they are more trustworthy. After hearing about UST, I've also always heard about USDD which has similarities to UST, if my advice is with the incident we should be really careful with coin stability, or better not put a lot of money there.

Probably no one expected such a scam from LUNA. The price is now 1.5 USD, although three days ago it was 80 USD. I haven't seen such a sharp drop since Bitconnect. I understand that the price will continue to fall because the owners decided to print new coins. This is very epic. Now we can conclude that all algorithmic stables are not reliable!

Oh well, they for sure have learn this lessons, a very expensive one as the price of their stable coins wasn't 'stable' at all because of the massive bank run that happen to them. I also curious as to why there are a massive sell and what triggers it. Because they have reported that they have invested their reserves on bitcoin instead of $, they have to sell at a lost now just to have their stable coins 1:1.

I believe the core team from UST made a fatal mistake making their stable coins completely destroyed even worst they can't recover, it's getting stronger because binance immediately delisted for LUNA and UST. As for USDD, I just saw it, but I don't trust the stability of new coins anymore since the UST incident, it's better to see them grow until many people believe in them, so far there are stable coins that are more certain, even USDT in trx the transaction fees are very cheap .

You are absolutely right. There is 90% chance Luna price can crash to zero but I think Founder & CEO of Luna Foundation Do Kwon is very committed person and he will do all what he can to avoid total failure of Luna foundation, he is already brain storming with his team to figure out a workable solution to restore confidence of investors in Luna. For the time being  It is better to sit on the  sidelines and don't make any impulsive buying in the market.

Without the investment of large capital, the problem with UST will not be solved. Luna Foundation Guard has fully used its BTC, which was supposed to support the value of UST and now, according to their statements, they are looking for $1 billion to support the algorithmic stablecoin Terra USD.

 I doubt when UST returns to 1$ there will still be people who want to hold LUNA. investor confidence has completely disappeared, just imagine in less than one day LUNA crashes to 90%. for top-ranked coins, this is absolutely insane. I personally have no interest in this project. even if the price falls below 1$, I won't buy it.

If a so called stable coin is not really stable and is fluctuating more than 1 or 2 percent of above or below the currency that it is pegged to it is already bad enough in my opinion because this means if you transfer 10000 $-pegged stable coins to "real" USD then you will lose 200$ if the stablecoin price is only 2% to low. What we are witnessing with UST at the moment though is on a completely different level. The price of UST was at 0,30 a few hours ago. No it's price is back at 0,47 $ at the moment but of course this is still absolutely catastrophic for the whole Terra ecosystem. I can really imagine that this could be the end of Terra.

this is a big case, stablecoin but not really stable. I haven't seen anything like this since my first time investing in crypto. imagine the USD stablecoin falling very deep to 0.3$. this is the most ridiculous thing i've ever seen. this problem is because Do kwon is too sure, the result makes everyone panic. he moved Bitcoin reserves a few days ago. made everyone speculate, its impact of distrust in UST and Luna. Luna and UST are game over, soon this project will die.

When most of people scolding about the LUNA and other altcoin.Few people are looking for the further dump to inverse their money. This is the crypto trading.This is what we facing over couple of year.Most of you not know this fact and scolding the Luna.But it's not a new phenomenon for the cryptosystem.From 2017, many new people became the billionaires and millionaire by investing their money to crytocurrency.

No need to announce the R.I.P status for the Luna and UST.Because the most of the LUNA investors withdrew their funds from the LUNA by two reason.One is due to panic of losing their money for long.Secondly the had cash out from Luna by the money need of the economic situation.So we can't blame the LUNA for this, we need to hold over Luna with some trust.Because in trading trust play the vital role for the success.

Man, LUNA & UST just solidified bear. It kinda sucks but I guess black friday sales.

I really doubt they can recover. Stablecoin runs on trust and that's the one thing they lost the most.

I just hope UST & LUNA disappear from this space. Largest ponzi scheme this year. Didn't even last that long before the shitshow happens.

I can only imagine what it must feel like to have a large portion of your portfolio invested in LUNA. That is unimaginable. LUNA crashed this year, which was a disaster for a project that was supposed to be rock solid. Watching this unfold in real-time is insane. There was a lot of money in Terra/Luna that has now been liquidated. A vulnerable shitcoin has been exposed. It is no longer trusted.

ry dramatic change in the price of luna, which at this time seemed to be touching the bottom again the same as at the opening price, after showing good performance before. lost trust can cause a domino effect, which is the same as what we can see today. is it going to get worse, in a day shows a volume decrease of up to 50%

That's one strategy. The trust is broken, however. Even if they solve this de pegging, it tainted this Defi project. Luna will be the hardest to promote and pump up because of its price drowning the well. The chance could be high if its price goes back up to $30-50 or something. This is another blowback to crypto in general.

Some news I heard that there are some large investment funds standing by, calling to save Terra in the market. But honestly, I'm still amazed at how quickly it evaporated. Now its reputation in this space has fallen out of favor and is almost a scam for those who have been and are participating, suffering large losses.

This is a result of an attack to there stablecoin. I read some article on twitter thats shows how much the attacker spend just to depegged UST to its current price. The rest is just a panic sell same with LUNA. I think LUNA will revisit again it's original price which is below 1$ since the dev team is still silent and I doubt that they can present a emergency plan that minimize loss of there asset, investors already loss trust and price need to visit the strong support in able to bounce back again. I still believe on this project but I will not gonna buy at this sell pressure though.

Now $0.30, how in the world did they get there being stablecoin? LOL

LUNA is literally hitting $1 before UST does (if it ever does).

No, LUNA is not a role model by any means. Their system was set up to essentially be ponzi-like and that does not benefit anyone.

All the algo stables that are backed by thin air is not unlike fiat currency, although just under the banner of decentralisation. The fact that the peg needs rescuing simply tells me that this is far from being decentralised.

The USDD protocol uses TRX as the base currency to price USDD. The USDD protocol maintains the market price of USDD around the target price regardless of market conditions using the following method:
● When USDD's price < 1USD, users and arbitrageurs could swap 1USDD to 1USD worth of TRX in the protocol.
When 1USDD = 0.9USD, an arbitrageur can buy 1USDD with 0.9USD in the external market and then swap 1USDD for 1USD worth of TRX in the system. After that, the arbitrageur can sell 1USD worth of TRX in the external market at 1USD. In this way, the arbitrageur spends 0.9USD to get 1USD, and earns 0.1USD without taking any risks. As a result of the above arbitrage, 1USDD will be burned, and 1USD worth of TRX will be minted. As the supply of USDD decreases, USDD's price will increase, to the point where there is no room for arbitrage and 1USDD re-equates to 1USD.
● When USDD's price > 1USD, users and arbitrageurs could swap 1USD worth of TRX to 1 USDD in the protocol.
When 1USDD = 1.1USD, an arbitrageur can pay 1USD for TRX of the same value in the external market and then swap 1USD worth of TRX for 1USDD in the system. After that, the arbitrageur can sell 1USDD in the external market at 1.1USD. The arbitrageur spends 1USD to get 1.1USD and earns 0.1USD without taking any risks. As a result of the above arbitrage, 1USD worth of TRX will be burned, and 1USDD will be minted. As the supply of USDD rises, USDD's price will go down, to the point where there is no room for arbitrage and 1USDD re-equates to 1USD.

This is one of the most shocking event I have ever seen in crypto space, how come a top ten coin LUNA that just hits it's all time high less than 2 months ago have now lost over 90% of that value and it is still on a downward spiral.

I do hope USDD would take a cue from whatever led to this catastrophic failure and not make a repeat.

What is ust pegged to for such a huge dip! Luna can dip since it only reacts to market condition and the general market is currently at a huge dip but why ust that is a stablecoin will experience such dip? Just make me lose trust in ust stablecoin compared to usdt which is still strongly trading at 1usdt.
I can't say much about trx usdd because it is new and not too long everyone praised ust luna and see the end result, I guess it is better to wait and watch what will happen afterwards.

Surprisingly i was waiting for the 20$ to take the entry In luna and today in warly morning the price dip is around the 15$ and now base value is 17$ to 14$ well.

Thats true that algorithmic coins are not much stronger to overcome the supply and demand value of this current wave.
But Bear trend is reason that not justified.

Because in Next Era of BTC when Dip fro 120k to 60k or 50k then how these Coins going to justify the investors. Stable coins pegged should be strong enough to provide the Perfection in justified price as its pegged there will be opportunity for the investors to enter with high risk and profits.

I will give you an interesting scenario about this but again this is still a speculation.

https://twitter.com/OnChainWizard/status/1524123983511273473

Luna was loosing a lot caused by it must have sold its bitcoin to peg its stable token while the price of UST is always getting short.

This may become the end for terra luna. This company is seeking a big loan to back its stable token but im sure that if this is not enough to be used for that. That needs more than a miracle to make this to go up again.

The bitcoin dump is ruining not only money but reputation of terra luna

the current bearish goes to show that there is definitely a lacking in the system of all these algorithmic stablecoin as they are not good enough in going against the wave of the market, bearish and all these stablecoins already have such a bad time overcoming the current condition not to mention that so many people are panicking because they are holding an altcoin that was supposed to be stable but turns out it’s not at all.
their supposed reserve value has decreased in value more than 50% surely that gonna put anyone that cares with the well being of their investment into an alarmed mode because it’s not some measly amount at all.

Luna is not recovering FYI, This is biggest scam in crypto especially in stablecoins. We are all claiming about how shady the USDT is while we are giving praise to LUNA UST since they are doing huge investment in Bitcoin but look at them now. They are the reason why crypto investors is on panic during this bearish trend. Bitcoin should be recovering by now if there's no scam drama like this given by luna company.

How come a stable coin will lose double digit percentage on few days? 

Luna is in a death spiral and it will be difficult for it to survive current crisis. This morning it is trading around $16 that means 86% down from its ATH. The idea of algorithmic stable coin UST failed to work during the market downturn and it has drastically damaged reputation of LFG. The collapse of UST would send ripples through the entire DeFi industry, and it will sound alarm bells for regulators who notice retail investors holding the bag. The current crisis is a huge challenge for Luna team.  Some supporters of Luna still believe that they still have enough reserves to bring back UST to 1 dollar. let's watch and wait how things shape up in coming days

https://www.coindesk.com/tech/2022/05/10/ust-stablecoin-veers-wildly-from-dollar-peg-heres-the-latest/

Luna dumps heavily but it will still retraced back. It's all matter of time. This is the likely the best time to bagged as much pieces of the coins as possible. The market is currently down, now is the best time to bagged as much coins as possible, inother to gained from the dip. One of the major reasons other Crypto are dipping is because the dumps of Bitcoin affects them all. Even Ethereum work align with Bitcoin price actions. Whales are selling their coins, those who buy high are selling low due to FUD in the space.

Well I guess the damage has been done to their reputation? And if I remember it correctly, they decided to infuse their reserves with BTC which I think is the biggest reason why the price of BTC suddenly goes down hard because they are selling it like hot pancakes just to be able to cover the 1:1 of their stable coins. Not sure if we are going to trust them with this kind of 'dumb' move, much better to look for alternatives.

Luna is recovering but this is not good a big thread to the Alogrithumic Stable Coins as you said its a role model because you can see Beans Stable Coin was also Dipped so hard due to hack.

But besides that DAI is one of the Best

Luna is a role model no doubt and LUNA is the only reason for the Popularity of the Pegged Decentralized stable currency in true words. But Luna showed a massive DIP reason its stable coin pegged with the LUNA lost its value to 77 cents remember that it's due to market fud/panic and heavy transfer of funds so Whatever the reason but due that LUNA made 50% dip estimated. $5B a massive Capital loss in the UST.

But if the LUNA made no recovery on it then the condition will be more worst I know they have good reserves in BTC and Luna to Pegg UST price again but now UST lost a major power Capital and there are more options for investors in the market.

My one more concern is with the USDD and TRX there are more possibilities that USDD can also face such positions but the Reserve and Market Capital Partners in USDD are one the biggest ventures onboard and in this Panic situation still, USDD made a good resistance on a $255M capital and keep growing reason major @AlamedaResearch @ambergroup_io @Polonniex. I am hoping good for USDD and if such a condition comes then TRX in DIP will be a buying spot and LUNA is also an opportunity but on which price you have to decide.





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