ViaBTC Capital|The Collapse of LUNA

ViaBTC Capital|The Collapse of LUNA


Timeline of the Collapse:

-In the early morning of May 8, to prepare for the 4Crv Pool, Luna Foundation Guard (LFG), a Singapore-based non-profit that maintains the Terra network, removed $150 million worth of UST from the UST-3Crv Pool. At this time, the TVL of the pool was around $700 million. In other words, it cost only about $300 million to drain this pool.

– To keep the balance of liquidity in the UST-3Crv Pool, LFG removed another $100 million worth of UST from the pool.

Trending: BREAKING: Senate Passes $40 Billion Package to Ukraine, Blocks $48 Billion Aid for Restaurants and Other Small Businesses

– On the evening of May 8, WhaleTrades, a whale alert account on Twitter, began to “ring alarm bells” frantically: there was a tweet of selling millions of dollars’ worth of UST every hour.

– On the

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend