I had several tens of thousands of UST on Anchor before the depeg, like many people it was not money that I was ready to lose, because it was supposed to be stable…
When the depeg started I didn’t sell anything because many say it would eventually repeg, but that didn’t happen and I lost everything.
Today I don’t care about LUNA 2.0, I don’t want anything to do with Terra for now, only thing I want is to get back the money I had on Anchor, there was a great proposal in this sense to refund the smallest portfolio which represents more than 90% of the total sum which was on Anchor, CZ and Vitalik themselves validated the plan, why do we have no more news ?
The more time passes, the more the chances of being reimbursed one day become slim, I begin to despair, is there still a chance ?
If you had aUST in Anchor, then you should have received some 2.0 LUNA tokens on the new mainnet a couple days ago. That’s all Anchor holders will receive. Nobody gets a full refund, because that would require $10 billion USD or more that the project doesn’t have.
Thankfully most people know not to put money into crypto that they’re not OK to lose: so while LUNC/USTC blowing up was painful… we’re still around
This is not the case for a ton of people - I for one fit into the “post-attack LUNA holders”, “post-attack UST holders”, and “pre-attack aUST holders”, but I have not received any airdrop. Are you aware of anywhere we can reach out to find out more info? All of Terra and Anchor’s social channels are closed, and I haven’t been able to find any info in this forum ;-;
‘Algorithmic’ stablecoins are a marketing term for just another crypto where you don’t put in what you’re not willing to lose. Asset-backed stablecoins with full reserves (like USDC) are not speculative assets.
How dense can you be lol
Stablecoin is stablecoin, no matter if its algo or not, exchanges treated it like a normal stablecoin promising people 1:1 exchange with usd, there were no warnings, and everyone treated it like a good investment - glorified it over tether. Anyway dont tell me like there is no proof, I seen it, Im one of those that fall for it. Donkey Kwong owe us all
Like you said: there is proof. Every algorithmic stablecoin (other than DAI) has failed. Then you saw it yourself with UST. Algorithmic is not ‘stable’. Asset-backed (like USDC) is stable. If you think they’re equivalent: how dense can you be lol
It certainly was marketed as a stablecoin, no doubt. However, it was not stable… no doubt
And… given how many algorithmic stablecoins had already failed, there was little surprise when UST started its near-inevitable Death Spiral. Remember that when you see other ‘algorithmic stablecoin’ marketing - there’s nobody holding USD for you to pull out later. Stick to stablecoins backed by assets (like USDC) and you’ll be fine.
If you still want to buy things like USDD… even if they call it a ‘stablecoin’… you’ve really just bought a grenade with the pin already pulled.
“there was little surprise” yeah right, tell that to all people who lost their savings, who suicided. This failure opened my eyes, and no matter how “backed” stabecoin is or how much someone shills it I will never ever touch any of them ever. They all could go under in a matter of days, and their “backed” assets to defend the peg could go away just like those 80k bitcoin from lfg.
I understand there are suicides around the world every day, but bringing some up here to win Internet brownie points is heartless. Some made poor decisions with their money, yes, but let them rest.
Asset-backed stablecoins don’t ‘go under in a matter of days’. It’s not that LFG was using BTC that was the problem… it was they only had enough to cover 15-20% of the USTC in circulation. Compare that with Circle… that has $50 billion USD to cover the 50 billion USDC out there. If Terra had $10 billion worth of BTC… we’d still be talking about how awesome they are today!
The important things is not letting this go.
I still hold my USTC because of this hope.
Problem is that now the LFG reserves are way lower as UST is not worth about a tenth of what it was before the airdrop commenced.
Waiting for news about the refund is worse than knowing we won’t get compensated at all.
@fatman actually addressed this issue a few weeks ago, when his eyes were still on the ball. It did appear that Do was talking to major exchanges to figure out how much UST accounts were out there. But we have not heard anything since. The new Luna airdrop stole the show.
There will be endless FUD concerning Luna 2.0. As there is endlesss FUD about BTC, ETH, LTC etc daily… and every other coin. Welcome to another day in crypto.
Yes I have electricity. I often use some of it responding to dumb comments in forums.
There won’t be endless court cases about LUNC/USTC for the next 3 years, because most people talk big… but never file a case. And the rational people have already sold their remaining LUNC/USTC so they could move on to their next plan to make money.
I think you and I can agree: we’re both sure Terra will be held to all promises they made to UST holders. And every contract will be honored.
To anyone giving lawyers money, to try to get paid $1 for each USTC, I wish you luck. Truly. All the best!
Wow I can’t believe you don’t know that lawyers work on contingency where they don’t get paid anything until they win. How do you not know about this lol. The Terra ecosystem will be stuck in this for years lol. It should be a good drag on your profits.
We could come to a mutually beneficial solution such as this: