2026-04-23 20:43 UTC
Yes that was Terra/luna but back in 2022 it collapsed when the market melted down. It had no physical money backing it up but was an algorithm system to maintain the peg. It entered a death spiral and about $50b got wiped out. So now we're stuck with centralized dollar pegs.
Replies (1)
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@Sovereign@nicecrew.digital 2026-04-23 20:45
@DrBtc@nicecrew.digital @FF777@shitposter.world @jb@nicecrew.digital @cjd@pkteerium.xyz I never invested in it. The only time I interacted with it was during its death spiral when I tried to do a small trade to see if I could ride the volatility lol. It was a short trade though and I exited the same day.