After this I will stay far far away from algorithmic stablecoins..

SEC also seem unamuse by this and they will likely do something to stablecoins after seeing this fiasco. Regulations incoming? :
https://www.protocol.com/bulletins/terra-st...ecoin-loses-peg

Previously SEC did subpoena Do Kwon but he fought back and refuse to attend the hearing.

some at Reddit say no hope liao.. it is the end.
no idea how Terra is going to recover their UST peg. For now it seems impossible.

imo if wanna get stablecoins for yield farming, or fast swap, just go for USDC that has USD and treasuries backing it.

buying algorithmic stablecoins is like betting on standard cryotos that are susceptible to up and down swings. Sure earlier things might seems rosy peg at 1USD, but anytime that can break when there's mass selling or bear market, or some whales manipulate the buy/sell.

it only took 285million worth of UST to first trigger the unpegging:
https://www.cnbctv18.com/technology/why-has...rs-13424472.htm

after a few days spiral down to what it is now.

after this fiasco I am betting SEC, Fed, US gov etc will start to want to regulate ALL stablecoins.. just hope we can still keep our high yields.

This post has been edited by Davidtcf: May 11 2022, 05:21 PM

you have Luna? if got then just hold first till it at least recovers some of its value.

Do Kwon plan to keep mint new Luna hence will cause it to oversupply the market, until UST value gain back its peg at USD1. So expect Luna's price to keep crashing until this happens.
Can check this at his twitter on his latest plans: https://twitter.com/stablekwon

at least UST now went up to 70 cents.. but trust severely broken. Many at Reddit say they will never use Anchor again.

This post has been edited by Davidtcf: May 12 2022, 10:11 AM

I predict BTC price can reach USD28k this year.. the bearishness is too strong.

Latest inflation report not helping also:
https://www.marketwatch.com/story/u-s-infla...igh-11652272713

I did a deep study on all Stablecoins and find USDC the best so far. BUSD would come second for me, but its transfer fees are higher. If you can use Binance u can earn interest directly via it (I can’t KYC binance due to app blocked in Malaysia).

USDT has some bad history with it if you google. Recently it’s peg has been falling slightly after the Terra UST fiasco.
Although its biggest now (due to 1st in market) but I don’t feel as confident compare to USDC. USDC is attested to every month via downloadable reports (by audit firm):

https://www.centre.io/usdc-transparency

Well any investment requires risk taking. I only put 10% of what I have in it. Others are still mainly in stock market which I trust more (however stocks tanking everywhere). As long you confident after doing enough research then go ahead.

Midas investments give higher at 18% for earn in kind.. problem is it lacks 2FA, no app, no backing history, no insurance, HQ rumoured to be in Russia (mostly Russians own it). So I trust Finblox more.. right now their users are growing when I check Reddit.

This post has been edited by Davidtcf: May 16 2022, 09:51 AM

Yea been avoiding it since the days when Anchor Protocol was thriving. This YouTuber who put money in also lost 20% of his capital:



Those who are buying now are traders wishing to gamble to make a quick profit. Could end up losses instead.

This post has been edited by Davidtcf: May 16 2022, 10:18 AM