Tag Archives: Terra (LUNA)

Kryptowährungen haben in den vergangenen Wochen deutlich an Wert verloren. Noch einmal beschleunigt hat diese Entwicklung der Zusammenbruch des Kryptowerts Luna, ein Coin, der mit dem Stablecoin TerraUS (UST) gekoppelt ist. „Das Geschäftsmodell der Terra-Blockchain, eine Basis für algorithmische Stablecoins anzubieten, ist gescheitert“ sagt Hartmut Giesen. „Viele Anleger haben hier investiert, ohne den Coin und sein Geschäftsmodell wirklich verstanden zu haben.“ Eine Grundregel für...

Terra co-founder Do Kwon has unveiled a detailed plan to hard fork Terra and revive the network’s ecosystem. It will involve abandoning its algorithmic stablecoin, and launching a new cryptocurrency to replace its old governance token, LUNA. The proposal is a follow-up to Kwon’s informal plan he posted last week, in which he admitted that UST was a failed stablecoin, and that the blockchain needed a fresh restart. It roughly reflects his original plan to distribute...

The CEO of the world’s leading cryptocurrency exchange Binance, Changpeng Zhao (CZ), said that he expects more transparency from Luna’s team following last week’s UST-LUNA fiasco. Last week saw a top cryptocurrency literally go to zero in a matter of days. UST – Terra’s algorithmic stablecoin – lost its peg and crashed to some $0.225. Because of how the protocol works, this created a massive arbitrage opportunity as users could burn 1 UST and receive $1 worth of LUNA. So long...

Terra co-founder Do Kwon has unveiled a revival plan for the Terra community, which will involve abandoning the UST stablecoin entirely. Instead, he suggests that validators reset network ownership under a new token by forking the chain, and distributing it to fairly compensate all damaged parties. UST Has Failed, says Do Kwon In a forum post on Friday, Kwon argued that Terra (LUNA) has been diluted to such a degree that its joint ecosystem with TerraUSD (UST) can no longer...

In the aftermath of Terra (LUNA)’s price collapse, multiple crypto exchanges have begun preventing users from buying or selling the token. However, Crypto.com has taken measures a step further, opting to reverse LUNA trades taking place in a certain time frame on May 12th. In an “important update” on Friday, CryptoCom claimed that users who traded LUNA in the hour from 12:40 – 13:39 (UTC) were “quoted an incorrect price”. Trading of the token was halted after the exchange...

This was the most eventful week in many months, but, unfortunately, the end result was that $500 billion were wiped off the total cryptocurrency market capitalization. Terra’s ecosystem was at the forefront of it all, so let’s unpack. On May 9th, UST – the algorithmic stablecoin of the Terra ecosystem, lost its peg. It fell to about $0.95, but no one was prepared for what happened after that. On the following day, UST continued losing value as the Luna Foundation Guard...

Terra and its ecosystem have had a pretty rough ride the past few days. With UST losing its peg and LUNA in freefall, Terra is under pressure to quickly resolve the “bad debt” and restore community trust in itself. TFL’s Proposed Solutions for Terra According to a series of tweets shared by Terra’s official page, TFL has proposed burning the remainder of the UST stablecoin reserves. More specifically, the team would like to burn a total of 371 million UST stablecoins that...

Terra’s entire ecosystem has been at the forefront of everything crypto in the past few days. Its stablecoin – UST – lost its peg. LUNA – the other cryptocurrency of the ecosystem – lost 99.9% of its value in days and keeps crashing. Do Kwon – the CEO of Terra – has been in the center of many discussions in the cryptocurrency industry as of late, and in a recent interview, he said that “there’s entertainment in watching companies die.” Ironic. The UST-LUNA Debacle A couple of...

Terra validators have reportedly decided to freeze Terra’s blockchain due to LUNA’s collapsing market price. The team argues that at such low costs, a whale buyer could easily commit a governance attack on the network. The chain was officially frozen at block 7,603,700, making native transactions on Terra’s blockchain impossible. Terra (LUNA), which has seen a price collapse of over 99% within the past week, also serves as the protocol’s governance token. Governance tokens...

Bitcoin plunged to a 16-month low, while the altcoins suffered even more in the past week or so. Despite bouncing off and reclaiming some ground, the situation is still dire, and Cardano’s Charles Hoskinson provided his outtake on it. Charles Hoskinson’s Views Cardano Founder Charles Hoskinson noted that the market is deep in a new crypto winter, and it will take weeks or even months for a bottom to appear, following which there will be some respite. According to him, the...