Luna LUNA Coin UST Pegging Good News Bad News
hello? I am a dream capitalist.
Today, let’s take a look at the good and bad news of Luna Coin’s UST pegging.
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Binance can trade not only Luna, but also Luna’s stablecoin, UST.
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https://blog.naver.com/lkok133/222682406888
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Luna UST pegging is broken
Luna’s UST is a stablecoin.
Therefore, it is a coin whose goal is to always maintain 1 dollar.
One dollar of UST is maintained through an algorithm.
Luna maintains the price through this algorithm.
If UST is more than 1 dollar, UST is issued by giving Luna.
For simplicity’s sake, let’s say UST is $1.1.
In that case, if you give us the equivalent of $70 in Luna, we will give you 70UST. But the UST was not $1, it was $1.1. So that’s $77.
Selling UST leaves you with $7.
So repeating this process indefinitely can make you very rich.
However, as this process is repeated, the UST from $1.1 becomes $1.09, becomes $1.08… The price of UST gradually decreases. At the same time, it is a good news for the UST to hit the US dollar, and it is also a good news for the Luna price to rise.
Conversely, if UST is less than $1, UST is issued to issue Luna LUNA.
For simplicity’s sake, let’s say UST is $0.9.
In that case, give UST equivalent to $70 and exchange it for Luna. But in reality, 70UST can be bought for 0.9 * 70 = $63.
However, the Luna you receive will be the equivalent of $70 Luna.
So, if you pay UST to the Luna Foundation, you will receive Luna and get a profit of $7.
If this happens, many people will buy UST and bring it to the Luna Foundation to receive Luna, right?
So UST goes from $0.9 to $0.91, 0.92, and gets closer to $1. It is a good news for the UST price to hit the $1 level, but also a bad news for the Luna price to fall.
There are a few things to note in this process.
That’s the price of Luna Coins.
How will the price of Luna Coin change?
1 When UST is higher than $1
Many people buy Luna and exchange it for UST.
In this process, the Luna price increases because you buy Luna Coins. It’s a good thing.
2 When UST is less than $1
Many people exchange UST coins for Luna coins and sell Luna coins to buy UST again.
Therefore, the price of Luna coin will decrease. It’s bad news.
Luna coin’s UST started to decline sharply from 2:30 on May 8th.
In this case, you can receive Luna Coins by purchasing UST and bringing it to the Luna Foundation.
Therefore, many people must have purchased UST, brought it to the Luna Foundation, and received and sold Luna Coins.
Also, Luna holders who were aware of this fact would have sold Luna Coins in advance.
Therefore, the price of Luna Coin has significantly decreased as of 2:30.
It can be seen that the mechanism of the Luna coin is the result of normal operation.
It was thanks to this mechanism that Luna rose from $1 to $100.
This is the Twitter of Dokwon, the creator of Luna.
I woke up. what a fun morning
You may have heard of Influencers’ CT (Crypto Twitter?) about the 69th UST depagging (a $1 break phenomenon).
Or you may remember that those people (those who sold Luna short because the $1 Luna package broke) were all poor.
It’s the 69th depacking and it’s really scary to say that they’re all poor. It’s all true.
The CT that Dokwon is talking about seems to be such people.
There is a difference in market cap between Luna and UST.
Pegging is also on the decline.
In order to prevent Luna from being depacked, the Luna Foundation will have to buy UST, and they may sell the Bitcoin that Luna recently purchased and sell it to the market and buy UST with the money.
There is a Twitter that spreads this bad news.
Do-kwon-nim, please punish those who have disloyal thoughts. (I’m a little confused too.)
I actually thought that Klaytn would be the coin with the highest market capitalization in Korea, but the coin that currently represents Korea is Luna. I don’t own Luna, but I hope I can have a higher market cap and shine in Korea in the future.