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@technical
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The $LUNA system was very well designed, but it had a major flaw that the designer did not anticipate. There was a 1 in 50 chance that this scenario would occur, and unfortunately, it did.
The system worked as follows: the more #UST you bought, the more the equivalent in LUNA was burned, and vice versa. This means that even in a bear market, when people should seek refuge in UST, it would have made LUNA deflationary, thus mitigating its fall compared to the rest of the market. To illustrate this, if during a bear market the main altcoins experienced a drop of -95%, LUNA could have limited its loss to around -20%. This would have made LUNA less volatile and more attractive as a safe haven. Moreover, the Terra ecosystem featured high-quality applications, interoperable thanks to the Cosmos SDK (a development kit providing tools to developers).
The applications in the Terra ecosystem were very well designed, unlike those on new blockchains where developers create applications solely to obtain AirDrops. For in… 0 reply
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