hearing podcast/youtuber right now and hes saying all they are doing is putting out more supply of tera/luna out there .. to stabalize USD .. if they cant stablize that, crypto will continue to get worse and worse
i really dont get the connection or understand what he was talking about
I dunno the project in and out other than it was a very promising top project in the crypto world,
I know they have 2 coins, Terra Luna and their stable coin UST which is pegged to the US Dollar. I think you meant UST not USD.
If remember correctly UST isnt backed by actual US dollars asserts, its simply pegged to it via other methods. I know they had a shyt done of Bitcoin in their liquidity which they dumped well over a billiion dollars worth if I heard correctly.
But as I said I dont know much about the project but I do know a stable coin needs to always be backed by something or else the entire project ends up being trash and hurt the entire cyr[to market potentially damaging it long term and having government come in with new laws and regulations. Imagine 100s of thousands of people pulling out of a crypto dip and pegging their finances to something that is supposed to fully protect their value, and then it dips from $1 to 0.30 cents in a few hours? YIKES!