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Difference between revisions of "LUNA Collapse in May 2022"
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* 25% - Community pool, controlled by staked governance | * 25% - Community pool, controlled by staked governance | ||
* 1% - Essential Developers emergency allocation | * 1% - Essential Developers emergency allocation, no lockup | ||
* 4% - Essential developers (1 year cliff, 4 year vesting thereafter, granted after launch traction) | * 4% - Essential developers (1 year cliff, 4 year vesting thereafter, granted after launch traction) | ||
* 35% - All bonded / unbonded Luna, minus TFL at “Pre-attack” snapshot | * 35% - All bonded / unbonded Luna, minus TFL at “Pre-attack” snapshot | ||
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From May 9th to the 12th, LUNA supply has increased 35,000% as that is part of the mechanism to restore peg to UST.<ref name=":0">https://terrasco.pe/mainnet/luna/supply</ref> | From May 9th to the 12th, LUNA supply has increased 35,000% as that is part of the mechanism to restore peg to UST.<ref name=":0">https://terrasco.pe/mainnet/luna/supply</ref> | ||
Terra validators have decided to halt the Terra chain to prevent governance attacks following severe $LUNA inflation and a significantly reduced cost of attack. Terra blockchain was officially halted at a block height of 7603700<ref>https://twitter.com/terra_money/status/1524785058296778752</ref> | Terra validators have decided to halt the Terra chain to prevent governance attacks following severe $LUNA inflation and a significantly reduced cost of attack. Terra blockchain was officially halted at a block height of 7603700.<ref>https://twitter.com/terra_money/status/1524785058296778752</ref> | ||
After patching the code and disabling validators, Terra blockchain resumed block production.<ref>https://twitter.com/terra_money/status/1524812171179327488</ref> | After patching the code and disabling validators, Terra blockchain resumed block production.<ref>https://twitter.com/terra_money/status/1524812171179327488</ref> | ||
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== Investors and Promotors == | == Investors and Promotors == | ||
Several promotors and venture capital funds suffered large losses. The exact amounts are difficult to verify | Several promotors and venture capital funds suffered large losses. The exact amounts are difficult to verify. | ||
* Arca - Published investor letter in May 2022, describing the de-peg as a buying opportunity<ref>https://www.coindesk.com/business/2022/05/11/crypto-fund-arca-doubled-down-on-ust-amid-stablecoins-collapse/</ref> | * Arca - Published investor letter in May 2022, describing the de-peg as a buying opportunity.<ref>https://www.coindesk.com/business/2022/05/11/crypto-fund-arca-doubled-down-on-ust-amid-stablecoins-collapse/</ref> | ||
* Delphi Digital - Rumors of $500m loss<ref>https://members.delphidigital.io/reports/mapping-the-moon-an-overview-of-terras-ecosystem/</ref> | * Delphi Digital - Rumors of $500m loss.<ref>https://members.delphidigital.io/reports/mapping-the-moon-an-overview-of-terras-ecosystem/</ref> | ||
* Arrington Capital - $100m UST yield fund<ref>https://twitter.com/CoinDesk/status/1524506527368888320</ref> | * Arrington Capital - $100m UST yield fund.<ref>https://twitter.com/CoinDesk/status/1524506527368888320</ref> | ||
*Galaxy Digital - $300m loss (no mention of cause)<ref>https://www.coindesk.com/business/2022/05/13/galaxy-digital-sees-quarter-to-date-loss-of-300m/</ref> | *Galaxy Digital - $300m loss (no mention of cause.)<ref>https://www.coindesk.com/business/2022/05/13/galaxy-digital-sees-quarter-to-date-loss-of-300m/</ref> | ||
*3 | *3 Arrows Capital - promoted and invested in LUNA. The CIO's Twitter posts implies that they lost money.<ref>https://twitter.com/zhusu/status/1525045033216397312</ref> | ||
== Sources == | == Sources == | ||
<references /> | <references /> | ||
[[Category:History]] | [[Category:History]] | ||