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r/CryptoCurrenciesSee Post

Do Kwon Refutes Claims That Terra Form Labs (TFL) Has “Special Privileges” Over LUNC Governance

r/CryptoCurrencySee Post

Wallet which got 20M LUNA 2.0 Airdrop was also voting in favor of Do Kwon's Proposal with 5% of Voting Power, It is now officially confirmed It belongs to Do Kwon himself. Do Kwon claimed TFL doesn't vote and also didn't get any airdrop while he's been grabbing every penny from his community.

r/CryptoCurrencySee Post

Wallet which got 20M LUNA 2.0 Airdrop was also voting in favor of Do Kwon's Proposal with 5% of Voting Power, It is now officially confirmed It belongs to Do Kwon himself. Do Kwon claimed TFL doesn't vote and also didn't get any airdrop while he's been grabbing every penny from his community.

r/CryptoCurrencySee Post

Wallet which got 20M LUNA 2.0 Airdrop was also voting in favor of Do Kwon's Proposal with 5% of Voting Power, It is now officially confirmed It belongs to Do Kwon himself. Do Kwon claimed TFL doesn't vote and also didn't get any airdrop while he's been grabbing every penny from his community.

r/CryptoCurrencySee Post

Here's how Do Kwon cashed out $2.7 billion using Degenbox to drain liquidity out of the LUNA & UST system and into hard money like USDT.

r/CryptoCurrenciesSee Post

TFL Employees Told SEC That Do Kwon Cashed Out Hundreds Of Millions Of Dollars Months Before Terra Imploded

r/CryptoCurrencySee Post

Why Has Terra Luna Crashed?

r/CryptoCurrencySee Post

Korean News Outlet KBS reports Terra Employees Were Paid Salaries by Both TFL and Kernel Labs, Do Kwon Allegedly Hid Tax Data From Investigators in Cloud. English Translation and Link to Original Article in Korean in Body.

r/CryptoCurrencySee Post

LUNAtic community member FatMan alleges insider deals and manipulation, says he has whistleblowers details on the corruption and shady deals that resulted in $40 bn wipeout. Apparently TFL was already bailed out once in May 2021 by Jump

r/CryptoCurrencySee Post

Do Kwon arrogance is on another level it has also cost an extra $20.8m in losses to Anchor users if only anyone from bug bounty team opened their email.

r/CryptoCurrencySee Post

If you don't know where the yield is coming from, you are the yield

r/CryptoCurrencySee Post

LUNAtics have begun burning LUNA themselves… Do Kwon said there are no funds to burn LUNA with (TFL is down $30B for the year) and posted the burn wallet’s address on Twitter. None of these transactions are made by TFL. This is a shameless move by DK.

r/CryptoCurrencySee Post

Remember when Terraform Labs toped up Anchor's reserves with $450M? Well, now prosecutors are investigating it for being a Ponzi.

r/CryptoCurrencySee Post

The Terra Revival Proposal is now live and under scrutiny

r/CryptoCurrencySee Post

Luna can be saved. Check out this idea

r/CryptoCurrencySee Post

Do Kwon’s New Proposal Plan

r/CryptoCurrencySee Post

A legal opinion in response to Do's plan to kill UST - Must Read for LUNA/UST HODLers.

r/CryptoCurrencySee Post

LFG just confirmed they have sold most of their BTC reserve (80K BTC) and still couldn’t defend the peg. They only have 313 BTC left in their reserve.

r/CryptoCurrencySee Post

Luna foundation guard just confirmed they have sold most of their BTC reserve (80K BTC). They only have 313 BTC left in their reserve.

r/CryptoCurrencySee Post

The Terra ecosystem was incredible and it's really a shame that it all was destroyed by a shaky foundation

r/CryptoCurrencySee Post

Do Kwon and TFL are going to prison

r/CryptoCurrencySee Post

ICYMI - Version of Terra/Luna Collapse in point form.

r/CryptoMoonShotsSee Post

Lucky Block Experience a worldwide lottery using Blockchain protocols

r/CryptoCurrencySee Post

Terra just injected supply with 50 million Luna

r/CryptoMoonShotsSee Post

🐶FlappyDoge🐶 | Heavy Marketing Started | Next 1000x BSC Gem 💎 | LP Locked🔒 | ✅Accomplishments and Upcoming Milestones⏳

r/CryptoCurrencySee Post

Terraform Labs (LUNA) filed it's opposition to the SEC. Interesting insight into the challenges the SEC may have pursuing DeFi platforms.

r/CryptoMoonShotsSee Post

🧐Take a look at 🐶FlappyDoge🐶 | Amazing Flight Itinerary | Next 1000x Gem 💎 | LP Locked 🔒 | Verified✅

Mentions

r/CryptoCurrencySee Comment

Not carrying water - just prefer accuracy. That “kill switch” was to remove TFL control of the chain, and let it be community owned. You know, what Terra Rebels is clamoring for…

Mentions:#TFL
r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

TLDR: Prosecutors Office raided Bithumb, Upbit, Coinone, and four other exchanges on Wednesday. The investigation team began seizing transaction records and other materials from the crypto companies at around 5:30 pm. Besides major exchanges, eight other places associated with the people with potential connections to the case were also raided by the prosecutors, the report noted. The probe will analyze the seized material and question witnesses to determine the size of the total damage of the fallout. A popular take on the debacle, as promoted by security company Uppsala Security, is that the wallet behind the attack kicking off the run against UST and its de-pegging was “owned or controlled by Terraform Labs (TFL) or Luna Foundation Guard (LFG).”

Mentions:#TFL
r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

Isn’t that just the 3 mil monthly LUNA TFL cashed out?

Mentions:#LUNA#TFL
r/CryptoMarketsSee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

The problem that report they lost everything isn't backed on chain, the report that's on chain and ex-TFL employee said already make Do Kwon cornered.

Mentions:#TFL
r/CryptoCurrencySee Comment

> BAC For BAC, it's the same as UST (UGHHH), and in some independent report, it shown that TFL and Do Kwon has take profit from it's down hill (It's talked by some of ex-TFL employee, that speak anonymously when interviewed by KBS in SK)

Mentions:#BAC#TFL#SK
r/CryptoCurrencySee Comment

And telling people that he lost the most of his and TFL money...

Mentions:#TFL
r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

I honestly feel pretty bad for the guy. Do Kwon only earned a meager salary from the TFL, and largely deferred from touching his founder’s tokens. The rumors of Do Kwon cashing out is unsubstantiated and categorically false. He displayed similar heroism of the brave musicians aboard the titanic Playing music and going down with the ship

Mentions:#TFL
r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

tldr; Terraform Labs (TFL) co-founder Do Kwon said he was "devastated" by the LUNA and UST implosion that took place in mid-May. He added that he was probably a billionaire when LUNA tapped an all-time high before the collapse, but lost a great portion of his net worth following the aftermath. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

It wasn't an accident, it was targeted by malicious actors. The Korean government thinks the malicious actors were TFL themselves, which many people think is a reach because there's evidence to suggest that.

Mentions:#TFL
r/CryptoCurrencySee Comment

TFL moved their company to Singapore more or less a year ago as South Korea was becoming too greedy and suits were showing up uninvited and interrupting work. > he fled to Singapore yes, but that will not save him You guys are pretty stupid - no one is going to jail - if you've read the Nansen report you'd know why - there's on-chain proof that 7 wallets performed an attack on $UST peg as well as a simultaneous attack on the chain which resulted in a bank run situation. Being a victim of a bank run is not illegal lmao

Mentions:#TFL
r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoMarketsSee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

The one who drop the initial domino is do kwon and TFL. They lack of support, even most of their employee stand against him in trial. Such a joke right.

Mentions:#TFL
r/CryptoCurrencySee Comment

People get rattled up by drama—it’s provocative! … dramatic crash and burns of TFL last month, Bitcoin and stock dumping, and get the popcorn out for this Celsius thing unfolding. Gonna get interesting!

Mentions:#TFL
r/CryptoCurrencySee Comment

Where is the actual evidence? Some entity (ie some investor) had a token purchase agreement with TFL, and thus has a big wallet. How does this make it do’s etc. Lot’s of bold and/or potentially misrepresented claims make it hard to sort actual misdeeds from bandwagon accusations…. Token purchase agreement will 90% chance be some investor.

Mentions:#TFL
r/CryptoCurrencySee Comment

tldr; TerraForm Labs (TFL) CEO Do Kwon has denied claims that he cashed out nearly $3 billion worth of crypto in the lead-up to his ecosystem’s spectacular crash. Kwon was accused by self-styled Terra insider FatManTerra of siphoning off $2.7 billion in 33 monthly withdrawals of $80 million each. He called the accusations “categorically false” *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Mentions:#TFL#DYOR
r/CryptoMarketsSee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

I’m sure if you dig deep TFL + LFG + all of their subsidiaries probably run the game under the sheets still

Mentions:#TFL
r/CryptoCurrencySee Comment

tldr; Do Kwon, the founder of Luna, has denied the claims that he cashed out $2.7 billion from the company's tokens. He said he refused to take tokens because he didn't need them and to avoid "unnecessary finger-pointing". He added that he has only earned a "nominal cash salary" in the past two years from TFL. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Mentions:#TFL#DYOR
r/CryptoCurrencySee Comment

Sorry visitor here but I love this carefully worded tweet from Do: https://nitter.net/stablekwon/status/1535811515978108928#m > the claim that I cashed out $2.7B from anything is categorically false Starting with a strawman redirection - no one is claiming he cashed out to "$" US dollars. > 2/ Two contradictory claims seem to exist where: > 1. Do’s wallets are doxxed, and he still owns most of his luna through the airdrop > 2. Do dumped all his tokens to make billions Again no one is claiming he dumped "All" his tokens. These two claims aren't contradictory. > To reiterate, for the last two years the only thing ive earned is a nominal cash salary from TFL Why use "earned" here instead of "made"? No one cares about your salary. No one is making claims about your salary or how much you've "earned" - it's about how much USDT you now have. > 4/ Hope that’s clear - I didn’t say much because I don’t want to seem like playing victim, but I lost most of what I had in the crash too. > I’ve said this multiple times but I really don’t care about money much This is just staring at the floorboards.

Mentions:#TFL#USDT
r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

Do Kwon: > “Two contradictory claims seem to exist where: 1. Do’s wallets are doxxed, and he still owns most of his luna through the airdrop 2. Do dumped all his tokens to make billions. A lane should ideally be picked.” > “To reiterate, for the last two years the only thing ive earned is a nominal cash salary from TFL, and deferred taking most of my founder’s tokens because a) didn’t need it and b) didn’t want to cause unnecessary finger pointing of “he has too much” of the tokens.” > “Hope that’s clear – I didn’t say much because I don’t want to seem like playing victim, but I lost most of what I had in the crash too. I’ve said this multiple times but I really don’t care about money much.” just the messenger of news btw don’t shoot

Mentions:#TFL
r/CryptoCurrencySee Comment

A de-pegging event should have been on the back of everyone's mind. However, the he mismanagement from TFL and Do Kwon was a completely blindsided attack on investors. It is damn near criminal negligence.

Mentions:#TFL
r/CryptoCurrencySee Comment

>But who gives a shit about philosophical archetypes; But that defeats the only purpose. If DAI is backed by USDC, there's no reason to buy DAI. Just buy USDC. >I am surprised you have so quickly arrived at "crypto collateralized stables simply aren't a great idea" ...a few short months ago you would have agreed with that statement Not sure if it's clear that I'm distinguishing between algorithmic stable coins and collateralized stable coins. Luna wasn't collateralized, regardless of the "backing" language Do Kwon used. A collateralized stable has to be backed by a crypto asset or a real world asset (USD). Real world asset backing requires a trusted custodian and defeats the purpose. And even BTC and ETH are to volatile to use as collateral without creating the near certainty of under collateralization at some point (unless collateralization rates are much higher than DAI currently uses). >The problem with Titan, Luna, etc., is that they provided little value outside of being a counterweight for their stable That was the key innovation of Luna, and also the reason UST hasn't repegged. The Terra chain was built to give Luna an external value as a staking and gas token, outside of its stabalizer value. No other algo stable had that external value to hundreds of network validators and dozens of dApp protocol development teams (and their user base). The mistake, which I never considered, was that, while UST would have been guaranteed to repeg eventually (at a much lower market cap, when everyone stopped selling)... the dilution of Terra made it impossible to secure the blockchain, because LUNA was also a governance token. The price of LUNA and MC of UST should have plummeted and Terra should have basically started over from 0. At some point all the UST that was going to be sold under $1 would have been burned, and probably a large amount would never have tried to sell. The problem, that they should have had a plan for, was that every new $1 spent buying LUNA had a higher percentage of voting power as the price continued to fall. So the validators and whales panicked and voted to stop letting people stake new LUNA. Then they stopped the burn/mint module entirely to stop further dissolution. It's crazy that TFL didn't have a plan for this at all. If they would have frozen the chain earlier, they could have waited until enough capital was committed to repeg UST before resuming the chain. Terra had more than enough users to chip in and do that if it was coordinated. Terra would have been crushed from the loss of faith and need for a new model, but it probably wouldn't have been a complete collapse. In fact there are multiple single actions TFL could have taken that each may have been enough to avoid the death spiral. Time locked incentivized UST deposits alone would probably have slowed UST sales down enough for the burn module to keep up. Not incentivizing the MIM degen box by topping up Anchor probably would have avoided the majority of the initial UST liquidation sell off. To say nothing of the probability that the BTC-UST pool probably would have worked perfectly (up to a certain UST supply)

r/CryptoCurrencySee Comment

Actually he is. His proposal is to ask TFL to pay up in full the smaller investors. It is quite a popular opinion at least in the forum. However, if you follow the story, TFL don’t give a fuck and instead just go on with their own plan without even considering community proposals. So basically the account getting recognizition because he is doubling down and gathering votes from twitter. In a way, he didn’t get what he want (it didn’t pass on chain either) so he basically turn it to exposing TFL.

Mentions:#TFL
r/CryptoCurrencySee Comment

Pretty sure the south korean police are investigating TFL for multiple things currently

Mentions:#TFL
r/CryptoMarketsSee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

No. Without UST it has no reason to exist and without TFL reserve, they cannot subsidize an APR above 4%. Why would anyone trust thwm with theie money again, after loosing billions in "savings"?

Mentions:#TFL
r/CryptoCurrencySee Comment

> If Anchor started with the same amount of liquidity and 20% interest rate but on a stable coin like USDC then it would have sustained for less than 6 months due to the large influx on investments but it wouldn't have lost peg for sure. this makes zero sense. where does TFL/anchor get the USDC to pay out in yield? they'd have to buy it on the market. UST's peg was maintained by buy pressure on LUNA. this allowed TFL to top off the reserves while LUNA demand and VC backing remained sufficient. 20% USDC yield would absolutely not have been feasible for 6 months.

r/CryptoCurrencySee Comment

tldr; Terra (LUNA2) reversed a portion of its losses this June 9 as its price per token rose by as much as 67.5% on the day, catching many traders off-guard with their perpetual swap positions. The volatile intraday move coincided with the liquidation of nearly $4 million worth of LUNA2 trades on Binance and Bybit, including $2.46 million of short positions. Investors are likely keeping their distance from the token amid allegations that TFL's CEO Do Kwon lied about having zero LUNAC tokens. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

TUST wasn't backed by anything. TFL or whatever they called themselves pledged support with their BTC but only to put upwards pressure in the event of a crash. Calling it collateralised is a stretch though because there was no direct correlation/relationship between the BTC and UST and no explicit declaration of collateral.

Mentions:#TFL#BTC
r/CryptoCurrencySee Comment

Exactly. TFL has been skirting around giving proof of what happened to the btc they own

Mentions:#TFL
r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

>The Seoul Police confirmed today that they are investigating an embezzlement case from last month where a TFL employee (not Do Kwon) allegedly stole bitcoins from the company's coffers In this single case he is not the one you should be punching.

Mentions:#TFL
r/CryptoCurrencySee Comment

tldr; The price of Terra's LUNA 2.0 token is down 56.92% since the high on May 30, 2022. A number of former Terra defi projects are transitioning over to the new Phoenix-1 blockchain. A whistleblower has accused Terraform Labs and Do Kwon of lying about making LUNA community-owned. Fatman alleges Kwon and TFL have access to 42 million new LUNA tokens. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

tldr; The price of Terra's LUNA 2.0 token is down 56.92% since the high on May 30, 2022. A number of former Terra defi projects are transitioning over to the new Phoenix-1 blockchain. A whistleblower has accused Terraform Labs and Do Kwon of lying about making LUNA community-owned. Fatman alleges Kwon and TFL have access to 42 million new LUNA tokens. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

Yet, DK, TFL, Luna & UST makes this sooo small.

Mentions:#DK#TFL
r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

tldr; FatManTerra has released a thread detailing recent conversations between validators and TerraformLabs. The discussions reveal that TFL developer Do Kwon is cracking jokes while a multi-billion ecosystem collapses, causing people to commit suicide around the world. Humour may be used as a coping mechanism, but Do has a duty to focus on stabilizing the Terra ecosystem. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Mentions:#TFL#DYOR
r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

https://fudgey.mypinata.cloud/ipfs/QmZ9cg1RVj8TFL6RSDRSToRy7Cz3ALpcMsVd6fRpUSswwF/index.html

Mentions:#TFL
r/CryptoCurrencySee Comment

Hosted on IPFS, the NFT is just a link to [this](https://fudgey.mypinata.cloud/ipfs/QmZ9cg1RVj8TFL6RSDRSToRy7Cz3ALpcMsVd6fRpUSswwF/index.html).

Mentions:#TFL
r/CryptoCurrencySee Comment

[CTRL+C CTRL+V](https://fudgey.mypinata.cloud/ipfs/QmZ9cg1RVj8TFL6RSDRSToRy7Cz3ALpcMsVd6fRpUSswwF/index.html)

Mentions:#TFL
r/CryptoCurrencySee Comment

[CTRL+C CTRL+V](https://fudgey.mypinata.cloud/ipfs/QmZ9cg1RVj8TFL6RSDRSToRy7Cz3ALpcMsVd6fRpUSswwF/index.html)

Mentions:#TFL
r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

It’s in a interesting takeaway. You don’t want to go to the sub of the coin to get info but also discussing a coin on this sub is considered shills. Go on to the coins website and it’s all stellar—TFL for example. So it’s like really tuff to draw on good conclusions. 😬

Mentions:#TFL
r/CryptoMarketsSee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoMarketsSee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

luna is not a scam, the technology and premise failed. scams intentionally take peoples money, TFL and luna didnt not do this on purpose. Luna just turned out to be a bad investment. It happens.

Mentions:#TFL
r/CryptoMarketsSee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoMarketsSee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

I'm not allowed to post this on it's own because there are too many Luna posts already but this is pretty big if true imo. ​ Korean News Outlet KBS reports Terra Employees Were Paid Salaries by Both TFL and Kernel Labs, Do Kwon Allegedly Hid Tax Data From Investigators in Cloud. https://news.kbs.co.kr/news/view.do?ncd=5475719

Mentions:#TFL
r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

The Blizz Finance post mortem claims that [the Chainlink minimum price circuit breaker "is not mentioned anywhere within Chainlink’s documentation"](https://medium.com/@blizzfinance/blizz-finance-post-mortem-2425a33fe28b)? I checked Chainlink's blog to see if they subsequently posted anything about it but didn't notice anything - but it was interesting that their last post before the situation was a post about how reliable they were. 😄 [https://blog.chain.link/chainlink-price-feeds-secure-defi/](https://blog.chain.link/chainlink-price-feeds-secure-defi/) > TFL setup the parameters Sorry, what is TFL? I tried Googling it but wasn't successful.

Mentions:#TFL
r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

Ooh, ooh, can I play? Maybe this is because of the trouble TFL is in because of the Mirror Protocol subpoena and the Mirror Protocol "hack" was TFL paying the fine using users money!

Mentions:#TFL
r/CryptoCurrencySee Comment

He does have control to shadow wallets TFL does not acknowledge (15M Luna). Getting an airdrop means they can unstake the amount and sell it later once the bonding period ends. I highly suspect it's not a misindexing error, because the dipshit has run scams with Chai & Basis Cash as well. This is likely his third rodeo; and is even worse than Sifu.

Mentions:#TFL
r/CryptoCurrencySee Comment

No. TFL (do kwons company) didn't even get the airdrop.

Mentions:#TFL
r/CryptoCurrencySee Comment

Wow, Tron copied ETH and is now copying TFL’s folly — Tron was labeled as a 💩coin by Coinsider on YT. The founder of Tron likes to steal ideas. Looks like he stole the wrong one this time. Whoever triggered UST’s death spiral can also trigger one for USDD. I am also predicting non-collateralized stable coins will be banned eventually.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoMarketsSee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoCurrencySee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.

r/CryptoMarketsSee Comment

#Terra Pro-Arguments Below is an argument written by ramjithunder24 which won 1st place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclosure: I do not own any Terra (Luna), neither am I affiliated with them. > > **Intro** > > Terra is a blockchain protocol that uses stablecoins in order to facilitate payments systems. > > Terra aims to utilise the price stability of fiat currencies and Bitcoin's decentralised characteristic for faster and affordable payments. > > **Terra's Defi Ecosystem** > > According to [DeFi Llama](https://defillama.com/chains), Terra's Defi ecosystem is the second-largest Defi protocol in terms of Total Value Locked (TVL), making it a prominent Defi protocol in the crowded Defi landscape. For investors that have Defi as one of their top-priority checkboxes when investing in coins, this itself should give investors a lot of confidence in Terra (LUNA). > > Moreover, Terra has bridges to many other prominent crypto chains such as ATOM, DOT and ETH. In other words, Terra provides many different alternatives / a wide range of choices for its Defi services. > > **LUNA's Deflationary Status** > > With the [Columbus-5 upgrade](https://coinmarketcap.com/alexandria/article/columbus-5-is-almost-here-what-does-that-mean-for-terra-and-its-users-flipside-crypto) in September 2021, LUNA burned to mint UST will be "actually burned", as opposed to being sent to the community pool (which was what was done previously). This is designed to increase the value of the currency, provide more incentive to for LUNA holders to stake, and to make LUNA deflationary in the long run. > > **Terra's Stablecoins** > > Terra's stablecoins are a key part of their ecosystem and their overall goals and values. As stated in the intro, Terra wants to use the advantages of fiat and crypto to create better payment mechanisms. And this is where their stablecoins come in. > > Currently, the most popular stablecoins under the Terra ecosystem are UST (pegged to the US Dollar), SDT (pegged to the IMF's Special Drawing Rights basket of currencies), and KRT (pegged to the South Korean Won). > > These are algorithmic stablecoins in which the stablecoin's supply is adjusted according to it's demand. To be more specific,[1 UST can be exchanged for $1 USD's worth of LUNA (Terra's native coin) at any time.](https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c) Hence, if the UST becomes worth less than $1 USD, buyers will quickly buy it and swap it for the $1 USD worth of LUNA, hence making a profit. This creates demand for UST and enables its price to recorrect itself to $1 USD. Additionally, for every new UST that is produced, $1 USD worth of LUNA is burnt. > > This is different from the approach that USDT (Tether) or USDC have taken for their stablecoins -which was to back the stablecoins with a fiat currency. And Terra has received criticsm about their approach and has started buying Bitcoin (BTC) to back their stablecoins. In fact, Terraform Lab's (the company behind Terra) founder -Do Kwon- announced a paln to [buy and hold $10 Billion worth of Bitcoin](https://twitter.com/stablekwon/status/1503296630396645376) to back it's stablecoins. > > [“The reason why we are particularly interested in Bitcoin is because we believe that is the strongest digital reserve asset,”Kwon said in an interview with Bloomberg previously this month.](https://www.bloomberg.com/news/articles/2022-03-28/terra-adds-135-million-in-bitcoin-purchases-to-back-stablecoin#:~:text=Terra's%20purchases%20are%20partly%20in,Luna%20tokens%2C%20Terra's%20native%20cryptocurrency) (Yes, this hyperlinked section is copy-paste, but it's from an interview and is directly quoted, so it doesn't break any rules. > > But how are the stablecoins related to LUNA? Well, one can argue that the LUNA token and UST are somewhat dependent on each other. In fact, the LUNA token will "succeed" if UST remains stable. > > **Response to Criticisms of Terra** > > One of the most common criticisms of Terra is that it is **not decentralised enough**. Assuming that [LunaRichList](https://lunarichlist.com/) is somewhat (by somewhat, I mean maybe not up to the decimal places - also, the site says its only for experimental purposes) correct, Terraform Labs holds a significant portion of the total LUNA coin supply. Hence, it is an undeniable truth that at the moment, LUNA seems pretty centralised. > > However, earlier this year, Terraform Labs donated a large amount of LUNA to [lfg.org](https://lfg.org), further lowering their stake in the supply of LUNA. If Terraform labs had malicious intents, they would not have done this. In fact, TFL regularly donates LUNA to LFG, which is a seperate entity and is run by experts in the crypto industry. Additionally, operating a [Terra node](https://docs.terra.money/docs/full-node/run-a-full-terra-node/system-config.html) is much less resource-intensive than running a [Solana node](https://docs.solana.com/running-validator/validator-reqs), making it more decentralisable. I understand that this is not a full, complete counterargument to Terra's centralisation issue, but it is meant to provide a clarification on why Terra is most likely not a rugpull. Lastly, Terraform Labs has a kind of [kill-switch](https://twitter.com/lunafomo/status/1440461303932338179) in which Terraform Labs will be completely separated from LUNA and the Terra network, enabling the final step to full decentralisation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mwy/top_10_terra_proarguments_january_2022/) 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.