Key takeaways: Four crypto analysts believe that the new Terra (LUNA) faces a bleak future in the crypto industry and markets. The newly launched Terra (LUNA) digital asset faces a bleak and uncertain future. According to a report by the team at Bloomberg, the new Terra (LUNA) token has ‘no...
Key takeaways: Terra’s Do Kwon allegedly rejected an initial 3.6% interest rate on the Anchor protocol. Anchor’s interest rate was reportedly increased to 20% one week before the protocol went live. According to the designers of LUNA, the collapse of Terra was visible from the beginning. The founder of Terra...
Summary: Jump Crypto has released a report reviewing the collapse of UST. According to their analysis, UST’s depeg was triggered by a sequence of trades in the UST/3CRV Curve pool. UST outflows from Anchor Protocol soon followed, further straining the stablecoin’s stability. The strong market sell-off that followed accelerated the...
Summary: The team at Arcane Research has suggested that early LUNA supply was controlled by a few holders and TerraForm labs, who have made tremendous profits selling the digital asset between 2020 and May 5th, 2022. In addition, TerraUSD (UST), worked as the perfect exit liquidity similar to a prolonged...
Chat logs from a Terra “war room” on Telegram have been publicized. The chat logs cover the confusion and uncertainty about saving the Terra network. Terra continues to suffer from issues, and the revival plan is alive but beset with troubles. Recent tweets from Terra community members reveal large portions...
Quick take: The Tether team believes that USDT has proven to be resilient amidst the events surrounding UST’s collapse. USDT’s stability in the last month is evidence that it has successfully undergone a stress test. The resilience of USDT is further amplified by the fact that Tether is fully backed....
Summary: CoinShares has released its 2021 Financial Annual Report. In the report, CoinShares CEO has stated that the company suffered a £17 million ($21.45 million) loss from its DeFi activities related to UST. CoinShares CEO has defined the loss as a humbling lesson for himself and the team. He also...
Summary: The team at the Terra-based Mirror Protocol has stopped an ongoing exploit that had already siphoned off $2 million in assets. The exploit was made possible through a faulty price Oracle that quoted the price of LUNC at around 5 UST when it was much lower. The attacker then...
Quick take: The new LUNA is now available on the world’s largest exchange. Terra’s airdrop also rolled out to LUNC holders. LUNA’s price is just above $9.7 on Binance. Terra’s new native token went live across major exchanges a few days earlier. The airdrop is incomplete on some platforms and...
Summary: Earlier this month, the Luna Foundation Guard drained its 80k Bitcoin reserves to save UST’s peg. According to Glassnode, the Bitcoin sold to save UST’s peg likely ended up being bought by small-time BTC whales owning less than 100 coins. The Luna Foundation Guard now holds 313 Bitcoin, down...
South Korean prosecutors have summoned Terraform Labs employees for a thorough investigation, local reports say. They also want to investigate whether Do Kwon manipulated prices. These new investigations are taking place as Terra tries to revive itself with a new blockchain. South Korean authorities have begun a thorough investigation of...
Summary: Do Kwon has refuted claims that Terra 2.0 has ‘Ninja’ Code that enforces the vesting of tokens of all users to be delegated to random validators. Terra’s Do Kwon has further clarified that the vesting of tokens was highlighted in Proposal 1623 to create a new Terra blockchain. In...
