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Difference between revisions of "LUNA Collapse in May 2022"
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Created page with "In May 2022, bearish crypto conditions resulted in the depeg of subsequent collapse of LUNA which crashed from over $80 to $0.69 in the space of five days. UST is the stable coin which can be minted with LUNA as part of the Terra ecosystem which is ran by Do Kwon. == Background == UST is a stable coin which can be minted by burning LUNA. Its redemption mechanism lets a user mint LUNA by burning UST which puts further sell pressure on the stablecoin peg. In case..."
0xBigDaddy (talk | contribs) (Created page with "In May 2022, bearish crypto conditions resulted in the depeg of subsequent collapse of LUNA which crashed from over $80 to $0.69 in the space of five days. UST is the stable coin which can be minted with LUNA as part of the Terra ecosystem which is ran by Do Kwon. == Background == UST is a stable coin which can be minted by burning LUNA. Its redemption mechanism lets a user mint LUNA by burning UST which puts further sell pressure on the stablecoin peg. In case...") |
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