 | If you have UST and you can get out of it, get out now. The work by the Luna Foundation Guard has managed to push the peg back up to 0.93 USD from a low of 0.68 late yesterday, but it's already starting to slip back down. The Luna Foundation Guard effectively used their ENTIRE reserve to accomplish this. They had nearly $4B of reserves last week and now they have maybe $200M. They have liquidated this entire pool to prop up the value of UST. They did this FOR YOU, so you could get out. There is no money left to save this stablecoin again, and it will now begin a slow slide to zero as the peg is destroyed and the experiment fails. Don't waste time, take your small 10% haircut (less than the stock market has fallen in the past week!) and GET OUT NOW. [link] [comments] |
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