LUNA

QueerShredder

Not really. Terra used an inflation/deflation mechanism to keep the peg of UST, playing with the supply of of both LUNA and UST. The risk of LUNA’s hyperinflation was always there if there was a run on UST because of that mechanism. My understanding of DJED is that it is a CDP like DAI/RAI overcollateralized by ADA as well as SHEN. Everyone here has been so nervous on new stablecoins since the Terra fiasco, and maybe rightfully so. But there really is a need for a decentralized stablecoin on these chains that is censorship-resistant and can’t be frozen by a central authority. Not every new stablecoin design is a scam, or prone to the same collapse as UST. I wish we would look at these new experiments with curiosity and intellectual vigor instead of dismissing them outright.

kxlxxn

I kind of shilled LUNA shortly before the collapse. Im so glad i didnt shill it hard enough, cause the person i shilled it to didnt buy (thank god). Still got PTSD from that so i dont shill anything anymore. Maybe a little Ethereum, but thats more educating than shilling i may say.

ec265

And where is $LUNA now? The price will probably go higher and money will be made, but it comes with a metric tonne of risk. The risk/reward is just not there for any rational individual.

Lillica_Golden_SHIB

Gonna be doing it as well. LUNA's real utility after all...

Odysseus_Lannister

WARREN BAD, CRYPTO GOOD. If anyone actually read the article, what she’s proposing, it’s cracking down on fraud by giving regulatory agencies more resources and examining cryptocurrency’s impact on the environment. These aren’t exactly controversial points considering many PoW things are massive uses of energy and the space is absolutely RIFE with projects that were either outright scams or took advantage of customers (FTX, LUNA, 3AC, voyager, Celsius, Nexo, etc.) However it’s much more easy to just regurgitate whatever nonsense gets upvotes around here.

Gunfolks

Honestly the market downturn was a positive other than the crumbling of exchanges, LUNA(which I wasn't in) and SOL and ONE. Fortunately I had gotten in on SOL and ONE relatively early so rode them up and down but didn't take huge losses. This downturn let me a accumulate more ETH, BTC, DOT and get into Matic at a decent entry. I learned to embrace the opportunity and while I appreciate having higher fiat value in my bags, I don't plan on cashing out for a decade so I'm all about opportunity to buy more for cheap.

FldLima

Even LUNA has more future

DMCarter_

Being collateralized and being backed is the same thing. Collateral *is* what backs a stablecoin. LUNA was burned in order to mint UST. You cannot both burn an asset AND use it as collateral, since burned tokens no longer exist.

Savi321

South Korean LUNA

Concept-Plastic

I invested in LUNA last year because I wanted a hedge against inflation for my Liras. I'm in profit!!!!

step11234

Only place LUNA is not going, is the moon

grndslm

This sub is definitely full of "regards", alright!! The WSB rejects trying to bring their culture to the crypto (Bitcoin) movement... as when they began to merge, the two originally had similar intentions about proving how corrupt the system was. Now it's patently obvious -- there's no true intention around these parts of actually replacing the current monetary system, there's just a desire for more fiat!!!!! And yea, I was drooling over the LUNA/UST ecosystem myself. At one point, I thought I'd move like half of my BTC into LUNA because it seemed like Do Kwon actually solved something (fortunately, my faith in BTC being the safer long-term bet won out). Do Kwon had too much control, but greed can be very blinding. This is why Bitcoin's idea of trust minimization and security are paramount to everything else... along with its very CLEAR plan of inflation until long, long, long after we're all dead. There's no need to look for anything else. It's literally what money is in every way, even being pegged to the physical world thru energy consumption while also maintaining a stably decreasing rate of inflation. The Bitcoin Standard is the cure for so many broken systems. And crypto is just another broken system that "regards" use in hopes that it will allow them to exchange it real fast for a whole bunch of fiat.

Blooberino

Collateralized was the wrong word. It was backed by LUNA.

GapingFartLocker

>The critical difference is that the former uses external collateral, such as the ADA token in Djed’s case, which is unconnected to the stablecoin protocol. By contrast, the latter uses internal collateral, such as how Terra LUNA backed the UST stablecoin pre-collapse. It's backed by ADA. So a stable, backed by another crypto. I'll be staying away from this one myself.

mihkelbrocast

I was the "hey if i would've bought bitcoin when it first came out" guy, when they at some cases just gave you BTC for joining their portal etc... so for a long time I did not even think about dealing anything with crypto. The whole world seemed too "big" to handle (all the different chains, tokens yada yada..." In start of 2022, I started to see that investing to stocks, startups and other opportunities to retail investors, is not enough for risk management, I went to see what crypto has to offer. Quickly I saw, that there is A LOT of people choosing 2 possibilities: ETH and BTC. In stock market, my portfolio consisted of 20-30 different stocks from different sectors etc. So my thought was - if i'm going to throw some cents into crypto, that is not proper risk management. I spent hours and hours during 3 months to go through different cryptos available, and found myself a list of 10 to try out. Keeping in mind, that there should be chains for different usecases, different princibles etc. I'm in a moment where I'm 66% up past 30 days (todays morning status), whereas BTC is up 33% and ETH ticks at 26%. I watched BTC going down hard while my own portfolio also went down during past year, but the loss was not as big, as some of the investments remained more or less stable. Watched the LUNA crash and FTT fiasco etc. **This is not "i did good, someone else didnt"**, what it is, is a story of risk management. The point of this story is - if anyone of you is a newcomer to this story then: \- Twitter is your enemy, if you allow it to be your enemy \- Youtube is your enemy, if you allow it to be your enemy *Same goes for reddit (although this subreddit has been extremely useful when filtering the information using some of my own principles.* Manage. Your. Risks. Dont put all the fruits in one basket.

99Beers

This. LUNA is 100% going on my tax return.

Emergency_Special849

I don't think they are connected. If I'm not wrong, TRON is older than LUNA (TERRA).

DukeThom

Can anyone explain what even is TRON? Tbh, thought it was just a LUNA fork?

kirtash93

LUNA 2.0 and FTX 2.0 vibes.

DPSK7878

I also started in early 2021 and I'm down about 70%. This is after losses in LUNA, UST, BlockFi, FTX, Celsius, Gemini. Any recovery from the bankrupted companies will be a bonus for me.

goblinfurioso

They sounds for sure more a safe investment than SHIB or others but as we seen with LUNA, FTX (acclaimed as safest, leanest, best CEX just few months ago) and so on, NO TOKEN IS SAFE. Let's take BTC for example: pollutes more than anything else with the energy that it needs. Where is written that government won't decide to istitutionalized it (they are already doing it or trying to do it), or to try to crash it. Probably ATM better to invest in holidays, health and so on.

DistinctEngineering2

LUNAC has one of the highest chances, I think. Massive community, and it's very driven. It's also doing better overall than LUNA, so it will likely carry the name forward (once the bad has been forgotten, and it will). LOOPRING is my other big odds winner, lot's to come for this project, and I think once they get the message timing right, we could drop into the top 10 overnight.

kxlxxn

LUNA really was a disaster

pyxploiter

We got pretty much same story except I lost like 5% in LUNA but almost 50% in FTX 😬 Losing your savings like this hurts. After FTX drama, I didn't put any further money into it, but now I have started to put pennies again into it. Hopefully I will (atleast) breakeven in next bull run. Good luck for you. May the odds be ever in your favor

mybed54

Fuck off with this garbage project seriously. People got fucked with LUNA and will get doubly fucked with LUNC

CointestMod

#DeFi Con-Arguments Below is an argument written by noxtrifle which won 2nd place in the DeFi Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > DeFi, or decentralized finance, is a method of transacting without the need for an intermediary, and in many ways replaces the traditional banking systems. Instead, a smart contract at the core of the app manages the whole system. However, the lack of regulation in the DeFi space is the root of several issues, such as: > > * **Lack of regulation** > * Like most cryptocurrency-based technologies, DeFi protocols lack comprehensive regulation. This allows doomed (or untruthful) systems like LUNA to thrive while investors are robbed of the money placed in DeFi protocols. > * Regulation is also a crucial factor in letting investors know that a protocol is compliant with legislation, so a [lack of regulation inhibits the potential of DeFi](https://www.insiderintelligence.com/content/lack-of-regulation-hinders-defi-s-disruptive-potential-modern-finance), especially to non-holders. > * **Barriers to entry** > * To enter the DeFi space, especially the most mainstream ones such as Curve and Compound, the ownership of crypto is *necessary* to participate. As such, people who are not tech-savvy or do not believe in crypto would not be able to experience the benefits of DeFi. > * That is, the mainstream adoption of DeFi is contingent on the mainstream adoption of crypto, something that could take decades to accomplish and would, in the process, stifle DeFi innovation due to a lack of users. > * **Risk** > * [CNBC](https://www.cnbc.com/2021/06/18/whats-defi-crypto-based-decentralized-finance-explained.html) highlights that there are 3 main types of risks with decentralized finance protocols. > * Technological Risk — that is, malfunctioning or malicious code could have catastrophic effects on the protocol, such as the [$90m glitch](https://www.cnbc.com/2021/10/01/defi-protocol-compound-mistakenly-gives-away-millions-to-users.html) suffered by Compound after an upgrade. > * Asset Risk — that is, since the cryptocurrencies used as collateral for loans are highly volatile in value, undue price movements would cause the mass liquidations of millions of users. On the other hand, loans from centralized banks remain relatively stable, and the only method of liquidation is defaulting. > * Product Risk — that is, since there is no regulation to protect investors from failed projects and that the value of a DeFi protocol is often determined based on its APY, it is commonplace to see DeFi protocols enticing users with unrealistic APYs and collapsing once they have a significant number of users. This entails the loss of investor funds, and is a similar situation to the [crash LUNA underwent](https://www.forbes.com/sites/billybambrough/2022/08/01/others-could-fail-imf-issues-stark-crypto-warning-after-terra-luna-led-crash-wiped-2-trillion-from-bitcoin-ethereum-and-crypto-market-price/?sh=82ebf157a23d) a few months ago. The IMF also warns of the product risk in decentralised finance. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/v2jl3u\/general_concepts_defi_conarguments_june_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_defi) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10kkgfg/daily_general_discussion_january_25_2023_gmt0/).

abx337

Jeff Berwick bought $5000 worth of LUNA at 0.000001 and sold when it bounced to 0.0004 and made about $2M. https://odysee.com/@DollarVigilante:b/Billions-of-LUNA-VID:7 starting around 30:45

CointestMod

#Terra Con-Arguments Below is an argument written by Far-Scholar9028 which won 3rd place in the Terra Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > The fall of Terra, a formerly billion-dollar ecosystem of digital assets, in May 2022 may have been the greatest token crash in the history of cryptocurrency. The largest algorithmic stablecoin in the world, UST, and its companion token LUNA, which was meant to keep UST's price stable, fell to almost nothing in value within a week. Proposal 1623 would decide the fate of Do Kwon's Terraform Labs company on May 25th, 2022. The community's plan to reconstruct Terra Network was put to the vote by Terra Luna owners, and it received a strong 65.5% "yes" vote. Old LUNA was to be renamed as Luna Classic (LUNC), and the new LUNA 2.0 coin was to be airdropped to LUNC holders after the LUNA token's value plummeted from $120 to roughly $0.00023. > > **Luna2.0 Cons** > > **No more differentiating use case** > > Luna2.0's token now only has a function as an on chain gas fee. The usefulness of Luna1.0 was inextricably connected to the stablecoin before UST crashed and burned. The use case was the stablecoin arbitrage that was used between the two cryptocurrencies to maintain UST's peg. Without UST, what is the point of Luna 2.0? > > **Run by the same people** > > Do kwon, the person who messed up badly with luna1.0 is still in charge of Luna2.0. With his reputation as a scammer, why would anyone use Luna2.0? TFL still runs the chain, and they too have been very secretive with their token holdings with both the original luna and with Luna2.0 as well. The people have lost faith in the chain and the people who are running the chain. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/wdgtyd/coin_inquiries_terra_luna_20_conarguments_august/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_terra.28luna.29) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10kkgfg/daily_general_discussion_january_25_2023_gmt0/).

CointestMod

#Terra Pro-Arguments Below is an argument written by FrogsAreBest123 which won 2nd place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Terra 2.0 - The Pros > > Disclaimer: I have never owned Terra Luna before, or have used any of the defi ecosystems both 1.0 and 2.0 offer. > > ​ > > # Terra 1.0 Explained > > * Terra 1.0 is the reason 2.0 exists, so it's best to explain 1.0 briefly. Terra Luna was a cryptocurrency directly connected to a stablecoin called UST. UST got its value through LUNA. > * for simplicity, you need to buy UST with LUNA (terra's native token). The LUNA sold to buy the UST is then burned. To sell that UST you do the opposite, LUNA is minted, and UST is burned. > * *What went wrong.* Everyone began selling their UST. When UST is sold, LUNA is minted, making it harder for LUNA to keep UST stable since the price of LUNA is worth less. The supply of LUNA went from 300 million to 6 trillion. Chaos ensued. > > # Terra 2.0 > > * Terra 2.0 was created in response to 1.0's collapse by Do Kwon, the dev of terra 1.0. Terra 2.0 was essentially the same as 1.0 but without UST. So where's the value > * **The Ecosystem** > * Terra Luna supports smart contracts, A lot of devs working on Terra classic have experience left, obviously. But there are a few [that stayed](https://medium.com/coinscapture/5-most-popular-projects-to-launch-on-terra-2-0-luna-bfe44f807943), for any cryptocurrency network, finding devs is an insanely hard task since most develop for Ethereum. Or.. in the wake of crypto winter, get a real job... > * A large number of [transactions per day](https://explorer.bitquery.io/terra/transactions?from=2022-08-01&till=2022-10-30). Terra 2.0 recently had a recovery from a daily transaction count of 270,000 to 370,000. Ethereum has about a million transactions per day. > * **Easy accessibility** > * Terra 2.0 was instantly added to many [major exchanges](https://www.gfinityesports.com/cryptocurrency/luna-2-crypto-exchanges-listing/), Binance, Kucoin, Kraken, and Huobi being the most notable. Most cryptocurrencies find it impossible to connect to even one major exchange, but to start off with several means these exchanges still see value in LUNA. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/wdgu4t/coin_inquiries_terra_luna_20_proarguments_august/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_terra.28luna.29) to find arguments on this topic in other rounds.

CointestMod

Terra(LUNA) {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Typical_Calendar_966

I heard LUNA is a good coin with lots of upside and lots of partnerships . /s

CointestMod

#DeFi Con-Arguments Below is an argument written by noxtrifle which won 2nd place in the DeFi Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > DeFi, or decentralized finance, is a method of transacting without the need for an intermediary, and in many ways replaces the traditional banking systems. Instead, a smart contract at the core of the app manages the whole system. However, the lack of regulation in the DeFi space is the root of several issues, such as: > > * **Lack of regulation** > * Like most cryptocurrency-based technologies, DeFi protocols lack comprehensive regulation. This allows doomed (or untruthful) systems like LUNA to thrive while investors are robbed of the money placed in DeFi protocols. > * Regulation is also a crucial factor in letting investors know that a protocol is compliant with legislation, so a [lack of regulation inhibits the potential of DeFi](https://www.insiderintelligence.com/content/lack-of-regulation-hinders-defi-s-disruptive-potential-modern-finance), especially to non-holders. > * **Barriers to entry** > * To enter the DeFi space, especially the most mainstream ones such as Curve and Compound, the ownership of crypto is *necessary* to participate. As such, people who are not tech-savvy or do not believe in crypto would not be able to experience the benefits of DeFi. > * That is, the mainstream adoption of DeFi is contingent on the mainstream adoption of crypto, something that could take decades to accomplish and would, in the process, stifle DeFi innovation due to a lack of users. > * **Risk** > * [CNBC](https://www.cnbc.com/2021/06/18/whats-defi-crypto-based-decentralized-finance-explained.html) highlights that there are 3 main types of risks with decentralized finance protocols. > * Technological Risk — that is, malfunctioning or malicious code could have catastrophic effects on the protocol, such as the [$90m glitch](https://www.cnbc.com/2021/10/01/defi-protocol-compound-mistakenly-gives-away-millions-to-users.html) suffered by Compound after an upgrade. > * Asset Risk — that is, since the cryptocurrencies used as collateral for loans are highly volatile in value, undue price movements would cause the mass liquidations of millions of users. On the other hand, loans from centralized banks remain relatively stable, and the only method of liquidation is defaulting. > * Product Risk — that is, since there is no regulation to protect investors from failed projects and that the value of a DeFi protocol is often determined based on its APY, it is commonplace to see DeFi protocols enticing users with unrealistic APYs and collapsing once they have a significant number of users. This entails the loss of investor funds, and is a similar situation to the [crash LUNA underwent](https://www.forbes.com/sites/billybambrough/2022/08/01/others-could-fail-imf-issues-stark-crypto-warning-after-terra-luna-led-crash-wiped-2-trillion-from-bitcoin-ethereum-and-crypto-market-price/?sh=82ebf157a23d) a few months ago. The IMF also warns of the product risk in decentralised finance. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/v2jl3u\/general_concepts_defi_conarguments_june_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_defi) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10jrpkm/daily_general_discussion_january_24_2023_gmt0/).

iMHackeRPiratE

they should repay their actual holdings or equivalent in stables. it's same shit like LUNA.

Tatakae69

Quick! I'm going to short this stablecoin only because I see another LUNA/UST in the making

Sea_Page5878

Bought in 2019 - early 2020, sold most in 2021 just as LUNA went to shit "steady lads" was my signal to sell.

RockEmSockEmRabi

This is the perfect post to sum up this sub lol. You lost way more money in LUNA than the capital losses offset. I appreciate this level of mental gymnastics

Blooberino

It's OK. I still own an embarrassing amount of LUNA and UST.

DBRiMatt

LUNC gonna perform better than LUNA2 🥴

LieutenantZucc

what do your portfolios look like? mines like this: GLP (35%), ETH (33%), GMX (14%), BTC (9.5%), ATOM (6%), LUNA2 (2.5%) lol probably a bit underweight btc

TabletopThirteen

Almost always if your metric is number of cryptos. If it's based off of market cap then not at all. Most of the money is centralized into the top cryptos that aren't scams. That's why it was such a big deal for LUNA to blow up like it did because it was a surprise

Wonzky

Or you know, you could've just had more profits if LUNA didn't implode

CointestMod

#Terra Pro-Arguments Below is an argument written by Far-Scholar9028 which won 3rd place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > The fall of Terra, a formerly billion-dollar ecosystem of digital assets, in May 2022 may have been the greatest token crash in the history of cryptocurrency. The largest algorithmic stablecoin in the world, UST, and its companion token LUNA, which was meant to keep UST's price stable, fell to almost nothing in value within a week. Proposal 1623 would decide the fate of Do Kwon's Terraform Labs company on May 25th, 2022. The community's plan to reconstruct Terra Network was put to the vote by Terra Luna owners, and it received a strong 65.5% "yes" vote. Old LUNA was to be renamed as Luna Classic (LUNC), and the new LUNA 2.0 coin was to be airdropped to LUNC holders after the LUNA token's value plummeted from $120 to roughly $0.00023. > > **Luna2.0 Pros** > > **No mint and burn mechanism in Luna2.0** > > As the downfall of LUNA was the manipulation of the mint and burn algorithm that was in place, LUNA2.0 has made that redundant via proposal 29. In order to safeguard Anchor from attacks, proposal 29 proposed freezing its earn and borrow features. However, until a governance vote unlocks it or forks it, users would still be able to withdraw their money. > > **Fair Airdrop Distribution** > > To ensure a fair distribution, the pre attack snapshot was taken on May 7. So here is the breakdown of how Luna2.0 was airdropped to the holders. > > Luna 1.0 holders (30%) > > * Wallets with less than $10k were subject to six month cliff then two year vesting period > > * Wallets with less than $1M were subject to one year cliff, then two year vesting period > > * Wallets with more than $1M were subject to one year cliff, then four year vesting period > > * Post attack Luna1.0 holders got 10% distribution subject to six month cliff and 2 year vesting period > > * Pre attack UST holders get 10% distribution subject to six month cliff and 2 year vesting period > > * Post attach UST holders get 15% distribution subject to six month cliff and 2 year vesting period ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/wdgu4t/coin_inquiries_terra_luna_20_proarguments_august/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_terra.28luna.29) to find arguments on this topic in other rounds.

CointestMod

Terra(LUNA) {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

step11234

Best thing LUNA ever did 😂

YourMomIsTooHeavy

I'm surprised that one of the big coins has made losses over that time period. Didn't know (except LUNA of course)

chchrnblklk

I'm curious as to what makes you say LUNA is done.

Any-Assignment6022

I vote for Do Kwon. Just the sheer amount of damage his poorly programmed UST-LUNA peg did to so many lives is just enormous. The bastard isn't even in jail yet.

CointestMod

#Terra Pro-Arguments Below is an argument written by Far-Scholar9028 which won 3rd place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > The fall of Terra, a formerly billion-dollar ecosystem of digital assets, in May 2022 may have been the greatest token crash in the history of cryptocurrency. The largest algorithmic stablecoin in the world, UST, and its companion token LUNA, which was meant to keep UST's price stable, fell to almost nothing in value within a week. Proposal 1623 would decide the fate of Do Kwon's Terraform Labs company on May 25th, 2022. The community's plan to reconstruct Terra Network was put to the vote by Terra Luna owners, and it received a strong 65.5% "yes" vote. Old LUNA was to be renamed as Luna Classic (LUNC), and the new LUNA 2.0 coin was to be airdropped to LUNC holders after the LUNA token's value plummeted from $120 to roughly $0.00023. > > **Luna2.0 Pros** > > **No mint and burn mechanism in Luna2.0** > > As the downfall of LUNA was the manipulation of the mint and burn algorithm that was in place, LUNA2.0 has made that redundant via proposal 29. In order to safeguard Anchor from attacks, proposal 29 proposed freezing its earn and borrow features. However, until a governance vote unlocks it or forks it, users would still be able to withdraw their money. > > **Fair Airdrop Distribution** > > To ensure a fair distribution, the pre attack snapshot was taken on May 7. So here is the breakdown of how Luna2.0 was airdropped to the holders. > > Luna 1.0 holders (30%) > > * Wallets with less than $10k were subject to six month cliff then two year vesting period > > * Wallets with less than $1M were subject to one year cliff, then two year vesting period > > * Wallets with more than $1M were subject to one year cliff, then four year vesting period > > * Post attack Luna1.0 holders got 10% distribution subject to six month cliff and 2 year vesting period > > * Pre attack UST holders get 10% distribution subject to six month cliff and 2 year vesting period > > * Post attach UST holders get 15% distribution subject to six month cliff and 2 year vesting period ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/wdgu4t/coin_inquiries_terra_luna_20_proarguments_august/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_terra.28luna.29) to find arguments on this topic in other rounds.

CointestMod

Terra(LUNA) {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Cannister7

Right. And shitcoin or not, LUNA or now LUNC was never a scam

Odysseus_Lannister

LUNA was top 10. Bitconnect was had a marketcap in the billions. Pumps ≠ legitimacy.

CointestMod

#DeFi Con-Arguments Below is an argument written by noxtrifle which won 2nd place in the DeFi Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > DeFi, or decentralized finance, is a method of transacting without the need for an intermediary, and in many ways replaces the traditional banking systems. Instead, a smart contract at the core of the app manages the whole system. However, the lack of regulation in the DeFi space is the root of several issues, such as: > > * **Lack of regulation** > * Like most cryptocurrency-based technologies, DeFi protocols lack comprehensive regulation. This allows doomed (or untruthful) systems like LUNA to thrive while investors are robbed of the money placed in DeFi protocols. > * Regulation is also a crucial factor in letting investors know that a protocol is compliant with legislation, so a [lack of regulation inhibits the potential of DeFi](https://www.insiderintelligence.com/content/lack-of-regulation-hinders-defi-s-disruptive-potential-modern-finance), especially to non-holders. > * **Barriers to entry** > * To enter the DeFi space, especially the most mainstream ones such as Curve and Compound, the ownership of crypto is *necessary* to participate. As such, people who are not tech-savvy or do not believe in crypto would not be able to experience the benefits of DeFi. > * That is, the mainstream adoption of DeFi is contingent on the mainstream adoption of crypto, something that could take decades to accomplish and would, in the process, stifle DeFi innovation due to a lack of users. > * **Risk** > * [CNBC](https://www.cnbc.com/2021/06/18/whats-defi-crypto-based-decentralized-finance-explained.html) highlights that there are 3 main types of risks with decentralized finance protocols. > * Technological Risk — that is, malfunctioning or malicious code could have catastrophic effects on the protocol, such as the [$90m glitch](https://www.cnbc.com/2021/10/01/defi-protocol-compound-mistakenly-gives-away-millions-to-users.html) suffered by Compound after an upgrade. > * Asset Risk — that is, since the cryptocurrencies used as collateral for loans are highly volatile in value, undue price movements would cause the mass liquidations of millions of users. On the other hand, loans from centralized banks remain relatively stable, and the only method of liquidation is defaulting. > * Product Risk — that is, since there is no regulation to protect investors from failed projects and that the value of a DeFi protocol is often determined based on its APY, it is commonplace to see DeFi protocols enticing users with unrealistic APYs and collapsing once they have a significant number of users. This entails the loss of investor funds, and is a similar situation to the [crash LUNA underwent](https://www.forbes.com/sites/billybambrough/2022/08/01/others-could-fail-imf-issues-stark-crypto-warning-after-terra-luna-led-crash-wiped-2-trillion-from-bitcoin-ethereum-and-crypto-market-price/?sh=82ebf157a23d) a few months ago. The IMF also warns of the product risk in decentralised finance. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/v2jl3u\/general_concepts_defi_conarguments_june_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_defi) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10i5m0a/daily_general_discussion_january_22_2023_gmt0/).

Odysseus_Lannister

I don’t think BTC itself has been lost or corrupted by a centralized authority, I think it’s the biggest, unregulated investment opportunity out there that’s ripe for manipulation by deep pockets. Bitcoin still works as intended for sending very divisible payments to any address a user pleases and is open to anyone who can afford the mining costs, but difficulty and electricity prices have increased greatly over the years. Other sorts of governments and jurisdictions across the world are weighing in on regulations for cryptocurrency and bitcoin happens to be the oldest and most proven one. What happened with LUNA, FTX, 3AC is not synonymous with BTC but all of cryptocurrency ≈ BTC to outsiders and media bastardizes everything. Im not quite sure about store of value narrative. I know there’s a finite amount of BTC to ever exist, but that was more to combat inflation due to hyperinflation happening by other centralized currencies where fiat inherently devalues over time as it can be created/printed whenever a time called for it.

kirtash93

A lot of scams pump and dumps. As SQUID, SAFEMOON, FTT, LUNA, etc. investors.

CointestMod

#Terra Con-Arguments Below is an argument written by Shippior which won 1st place in the Terra Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Terra (Luna 2.0) with ticker [LUNA](https://coinmarketcap.com/nl/currencies/terra-luna-v2/) is the succesor of the original Terra, now rebranded as LUNA classic. Luna launched on the 27th of May 2022 amongst the chaos of the Terra bubble. In this bubble the stablecoin associated with the Terra ecosystem USTC (then UST) was depegged by several parties such that Terra and Bitcoin could be shorted as these would devaluate as a result of the the depeg. More about the collapse of Terra can be read [here](https://blog.chainalysis.com/reports/how-terrausd-collapsed/). > > Luna 2.0 was created (or rather much forked) by [Do Kwon](https://en.wikipedia.org/wiki/Do_Kwon), the inventor of the Terra ecosystem without a link to a stablecoin to provide the benefits that Luna brought without the risks of an algorithmic stablecoin attached to it. It was approved by the majority by vote (65.5%) on [proposal 1623](https://cosmosrun.info/terra-classic/gov/1623). LUNA was airdropped to both pre-attack as well as post-attack stakers and holders of LUNA and UST at the time the Terra collapse started on several chains according to pre-determined ratios. Luna 2.0 is, just as its predecessor based on Tendermint SDK which is also used by the Cosmos Hub. > > The first major disadvantage is that investors have lost a lot of faith due to the first attack. Many people have lost a lot of money, Terra 2.0 was an attempt to recoup some of that loss but it was not enough and that leaves many people salty. Currently the market cap of Luna 2.0 is below that of Luna Classic (1.7B vs 400mil according to coingecko). The trust in the chain is also limited due to the fact the aforementioned creater, Do Kwon, is faced by [several lawsuits](https://cryptobriefing.com/terras-do-kwon-facing-yet-another-lawsuit/) started by investors who lost money during the crash. Even before the crash Do Kwon was often heralded by the crypto community because he claimed to be all knowing and was overconfident of his knowledge and the performance of Luna Classic to the point of arrogance [[1]](https://twitter.com/stablekwon/status/1509319412674797572) and [[2]](https://twitter.com/stablekwon/status/1512604793365180421). > > Many developers have left the Terra ecosystem for other ecosystems. The transition to the Cosmos ecosystem is relatively easy as they are both based on Tenderminst SDK. Examples like ORCA (now [Kujira](https://kujira.app/)) and [Sei Protocol](https://www.seinetwork.io/). This is a logical decision as Cosmos has over [70,000 transactions](https://cosmoscan.net/cosmos/network-charts) and is only 6th in number of daily transactions in the Cosmos ecosystem a day versus [300,000 transactions](https://explorer.bitquery.io/terra/transactions) for Luna 2.0. Some teams have even completely abandoned the Terra ecosystem, one of the examples being [Messier](https://www.messier.art/), an NFT marketplace. Also other chains like [Polygon](https://twitter.com/polygonstudios/status/1529478832784396291?s=20&t=5wWnbqnTznjfn7TW71hjhg) have made funds available to poach developers and/or projects. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/wdgtyd/coin_inquiries_terra_luna_20_conarguments_august/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_terra.28luna.29) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10i5m0a/daily_general_discussion_january_22_2023_gmt0/).

CointestMod

#Terra Pro-Arguments Below is an argument written by FrogsAreBest123 which won 2nd place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Terra 2.0 - The Pros > > Disclaimer: I have never owned Terra Luna before, or have used any of the defi ecosystems both 1.0 and 2.0 offer. > > ​ > > # Terra 1.0 Explained > > * Terra 1.0 is the reason 2.0 exists, so it's best to explain 1.0 briefly. Terra Luna was a cryptocurrency directly connected to a stablecoin called UST. UST got its value through LUNA. > * for simplicity, you need to buy UST with LUNA (terra's native token). The LUNA sold to buy the UST is then burned. To sell that UST you do the opposite, LUNA is minted, and UST is burned. > * *What went wrong.* Everyone began selling their UST. When UST is sold, LUNA is minted, making it harder for LUNA to keep UST stable since the price of LUNA is worth less. The supply of LUNA went from 300 million to 6 trillion. Chaos ensued. > > # Terra 2.0 > > * Terra 2.0 was created in response to 1.0's collapse by Do Kwon, the dev of terra 1.0. Terra 2.0 was essentially the same as 1.0 but without UST. So where's the value > * **The Ecosystem** > * Terra Luna supports smart contracts, A lot of devs working on Terra classic have experience left, obviously. But there are a few [that stayed](https://medium.com/coinscapture/5-most-popular-projects-to-launch-on-terra-2-0-luna-bfe44f807943), for any cryptocurrency network, finding devs is an insanely hard task since most develop for Ethereum. Or.. in the wake of crypto winter, get a real job... > * A large number of [transactions per day](https://explorer.bitquery.io/terra/transactions?from=2022-08-01&till=2022-10-30). Terra 2.0 recently had a recovery from a daily transaction count of 270,000 to 370,000. Ethereum has about a million transactions per day. > * **Easy accessibility** > * Terra 2.0 was instantly added to many [major exchanges](https://www.gfinityesports.com/cryptocurrency/luna-2-crypto-exchanges-listing/), Binance, Kucoin, Kraken, and Huobi being the most notable. Most cryptocurrencies find it impossible to connect to even one major exchange, but to start off with several means these exchanges still see value in LUNA. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/wdgu4t/coin_inquiries_terra_luna_20_proarguments_august/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_terra.28luna.29) to find arguments on this topic in other rounds.

CointestMod

Terra(LUNA) {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

rootpl

Sooooo there was a thing called LUNA that everybody liked on this sub...

OneThatNoseOne

Honestly, I don't think Genesis is another FTX. They are a sister company of Grayscale who are under extreme some extreme compliance regulations. Genesis is also the only what is called 'authorized participant' for Grayscale, meaning they are the only company allowed to manage Grayscale assets, and by extension are also under stringent regulations. I just think Genesis over-extended themselves when times were good and probably got caught up in the LUNA crash as well as for sure with the FTX crash.

GalcomMadwell

60%? How about 99.99%? Lost $6,000 on LUNA 😭

Bolero-clan

The WEF want to destroy people and crypto because the FED has printed air-money, they fight against the BRICS in Oekraïne. The proxy-war! 3AC, FTX, LUNA these projects are scams to destroy people and crypto. At the end we gona win and we gona destroy the WEF. Buy Bitcoin, that's the only way for freedom, decentralised!

3utt5lut

I can't wait till we get back to pre-LUNA prices. That was extremely devastating for Bitcoin and the alt market.

Soil_Electronic

People take some profit leveraged degens get liquidated and we move up and we repeat and again sounds like a bull but… hope we don’t experience FTX,LUNA nonsense on the run up

partymsl

Has been for a while like that. That's also why the FTX crash was less severe in comparison to LUNA on the price.

ianm82

Here's my thought. Retail investors gave up on crypto in 2022 for obvious reasons. Institutional investment firms sat on the sidelines probably since the collapse of LUNA/UST and subsequent big player falls if you were smart you did to. We saw a true bottom of BTC at $15.5k - 16k where support held for quite some time. During this period, we were all loading up and moving our assets off exchanges. Finally, when more bad news would hit the market, instead of another nose dive, BTC would dip slightly and then recover quickly. This happened whenever the fed would hike interest rates or whenever even bigger news like the collapse of FTX or most recently Genesis. This is a key marker. When the assets price doesn't dive on the usual market moving news, that's when you're at the bottom. Most recently we've seen a positive tend over the past 2 - 2.5 weeks. Now the institutional players are re-entering.

TheRiss

One day, when I'm in my waning years and probably have robot nurses to help me perform my daily activities, I'll stumble upon a notebook as I prepare my estate for the inevitable. In that notebook will be a strange jumble of words. I'll realize through the fog of dementia that it's a seed phrase for that hardware wallet I lost years ago. I'll give the seed phrase to my robot and be informed that I finally recovered my lost LUNA and FTT. Heart attack, ded.

kirtash93

I couldn't tell you but I think that the chances of recovering the money from FTX are greater than the chances of recovering the money from LUNA. There is also a lawsuit against SBF and it is more likely that something like Mt Gox or Bitconnect will happen.

szerted

Right after LUNA and BOINK, of course!

Elean0rZ

With the caveat that no one knows shit about fuck, and that I'm NOT saying that the bear market is over or that we can't still go lower: I think we're seeing a natural rebound from the dumps caused by LUNA, FTX, etc. As a general rule, if there's a big pump, there's a pullback; and if there's a big dump, there's a recovery. The negative effects of LUNA, FTX etc. were amplified by the broader context of the "rightful" crypto market correction after the 2021 bubble, and by the ongoing macroeconomic turbulence that's affecting all markets. But fundamentally, LUNA, FTX etc. were sudden, shocking events that caused panic sell-offs, yet which, once over, are unlikely to leave a lasting mark (I mean in terms of crypto's core value proposition; no offense intended against those who lost money in the collapses). In other words, perhaps $10K of the dumpage we experienced was caused by exactly the sorts of events from which you'd expect a rebound, which hadn't yet happened. So my feeling is that we were oversold to begin with, and this is a natural return to closer to the "true" market--which is obviously still way below 2021 levels, as you'd expect given that a new speculative cycle has yet to begin, and given that the macroeconomic situation remains uncertain. I wouldn't be surprised if we see more crabbing until the macro improves and the prevailing anti-crypto narrative fades, but a $5-10K rebound from the bottom seems pretty reasonable here IMO.

devilsgospel666

Fuck it might as well. I bet people use it again because nobody learns anything. Look at LUNA lmao didn't people just harass Binance or something to support it again? We deserve this.

InsaneMcFries

I have a feeling it’s not gonna matter in the slightest… I mean shit like safemoon keeps chugging on, LUNA still has presence and probably will still surprise us next bull with activity… SOL, with its red flags and connections to FTX, once again pumping like nothing happened. Just another CEXy time to be had

Every_Hunt_160

Even if they legitimately think crypto is a scam in their minds You don't see people coming out with subreddits and making actual posts 24/7 on how FTT/LUNA is a scam Weird bunch of people I must say

milonuttigrain

Even more shocking is people still buy LUNA and FTT

Background-Swan827

How you gonna just chuck algo in with LUNA, ONE, and VET. LOL

SeriousGains

I had money in Earn. The terms and risk was clearly stated. When LUNA collapsed and BlockFi went under I pulled it all out. Anyone who didn’t was after that point was not being financially prudent and I have little sympathy for them.

ST-Fish

Yeah man, keep having fun picking up pennies in front of a steamroller. I'll keep my "marginal" gains while you get that sweet 20% APY with 0% risk from random shitcoins like LUNA, that never goes bad for anybody. It's as if people on here have no idea what survivorship bias is. Yeah, MATIC was cheap and now it's not, but when MATIC was 3 cents, you couldn't pick it out of the sea of shitcoins without catching some that went to 0 or near 0. Just look at the long term graphs of any shitcoin's price, priced in Bitcoin. They peak once, and never return. HBAR and the like are dead and will stay dead, and there will be new shitcoins people like you will shill and point to them when they go from 0.03 to 0.90 because hindsight is a bitch. "Oh, but look, if you bought the right lottery ticket you would have won a lot more than by putting your money in an ETF" No shit Sherlock, just tell us right now what coins are going to 100x in the next 3 years with your fucking crystal ball. The get rich quick crypto community is still strong apparently.

ST-Fish

Yeah man, think of all the people that missed the NANO, NEO, LUNA, EOS, and all got left behind holding their worthless bitcoin right? Oh they didn't? Stop investing in shitcoins

seb7mad

So Bitcoin was more hated than LUNA. Sure

FldLima

FTT the next LUNA and that is still around