TITAN

MinimalGravitas

> CELCIUS, VOUYGER, FTX, 3AC None of those were DeFi platforms, they were all Centralized services where you gave assets to a company and trusted them to pay you interest. Kinda the exact opposite of DeFi. > TITAN, LUNA Titan/Iron and Luna/Terra were both unsustainable algorithmic stablecoin platforms. They were mostly 'DeFi' to be fair to you, but in both instances people who understood them were warning people that there wasn't an onchain source for the rewards that were being paid out and so it could only possibly end one way. > you’ve got to be mental to use any DEFI platform nowadays The whole point of DeFi is the user should be able to see exactly where their assets go, what happens to them, and where any rewards come from... e.g. if you look at AAVE you can see that the interest given to lenders comes from the interest paid by borrowers. In Uniswap the returns you get from providing liquidity come from the transaction fees paid by people swapping. All the code is open source, the chains the platforms run on are public, if you are concerned something is going to break you can examine it yourself, rather than just lump everything into irrational categories and tar it all with the same brush.

Agitated_Custard7395

TITAN, LUNA, CELCIUS, VOUYGER, FTX, 3AC, and soon to come THORCHAIN to name a few, you’ve got to be mental to use any DEFI platform nowadays

Agitated_Custard7395

For now, but the project looks dodgy as fuck. The amount of coins owned by the founders that are unlocking soon is concerning. Also, they’re introducing a stablecoin, which removes all the utility from XRP, sure the stable coin is backed by XRP but if XRP has no utility then it has no value. Stable coins backed by crypto have a history of failure, see LUNA/TITAN etc

Acceptable-Hat-7846

PNut has started a solid trend of honouring animals after death. I wouldn't be surprised if Harambe pumps. Right now, I'm in TITAN - a police dog killed just the other day.

figglyp

$TITAN TO THE MOON i havent seen a group work so well and want to all moon this together in quite some time join us guys its a different vibe, something special

Beechbone22

Restaking is a high risk narrative that hinges on EigenLayer's success but it has nothing to do with the seigniorage mechanism of Terra or the likes of TITAN, or partially backed stables. Ether.fi isn't printing any tokens out of thin air. Every single eETH is backed by natively staked ETH that is being restaked with EigenLayer. It's higher risk than naked LSDs such as rETH or stETH but Ether.fi is no more a scam than Lido is, it's just inherently more risky due to the additional layer of EigenLayer.

Ochemdoctor

TITAN

PsychoVagabondX

USDT only hold value based on the promise that if you take it back to Tether, they will destroy it and give you USD. The problem is that because we know that this tiny overseas company run by another tiny overseas company doesn't really have 85 billion, if there were ever a run on USDT, the value would collapse. Similarly to how IRON collapsed when TITAN did. The difference with USDT is that a lot of exchanges use USDT to allow people to trade in dollar equivalents, so chances are the collapse of USDT would have a domino effect on a bunch of exchanges, while dragging down the prices of BTC with it, particularly when exchanges are found to be running fractional reserves too (which they definitely do).

BPbeats

Lmao TITAN that’s a throwback. That’s the one that burned Mark Cuban

EpicHasAIDS

Walk me through TITAN and Terra/Luna. How'd those end up. You may not like it, but improperly managed stable coins sure as fuck can cause problems.

Embarrassed-Bowl-230

Im afraid of algorythmic stablecoins ever since $TITAN and my PTSD only worsened when UST came by. Im done with those but it's more a trust thing than anything else. I dont understand them and I dont trust them anymore.

cannainform2

This is not the first time Cuban has suffered crypto losses. When Iron Finance’s TITAN stablecoin collapsed in a supposed rug pull in 2021, Cuban lost an unspecified amount of assets. Furthermore, Cuban is the latest target in a string of high-profile crypto hacks and scams. Crypto exchange CoinEx reportedly lost $27 million in a hack on Sept. 12.

Odysseus_Lannister

I can’t believe this happened to such a TITAN of the industry.

fanriver

TITAN

Affectionate_Hand_76

Friendly reminder that mark cuban was involved in the rug pull of TITAN .

fanriver

Fortunately he ran fast on the TITAN project, otherwise he would have lost even more

Lardbear

TITAN is the one that comes to mind when you mention this. I believe they were offering 50,000% APY at one point, before they subsequently collapsed. Even Mark Cuban got dragged into that one.

Lardbear

Yea for sure. TITAN was offering something stupid like 50,000% APY before it collapsed.

DrAntagonism

I miss the days when Mark Cuban and I were losing money farming TITAN with our artificially pegged stablecoin IRON.

fanriver

I invested in TITAN

fanriver

TITAN

fanriver

Yes, I still remember the TITAN he invested in

olduvai_man

"It was all in black and white how the math of the stable coin and TITAN worked. If I looked it was there—how much needed to be added in order to support TITAN and what would happen if sales overtook adds. I chose not to do the work."

Jending

Good explanation, but I don't agree with your statement: "Without exception, every 'crypto' that came after Bitcoin was a group of people pulling together funding, pre-mining and doing ICO's on some form of copy of bitcoin, with the hopes of creating profit, much like any entrepreneur who forms a business and wants to offers shares in their business to investors to share in the profits." Ever hear of Digital Reserve Currency (DRC)? Ever hear of Iron Titanium Token (TITAN)? See 'HoweyTestFailures' for more info. Jending

hulkklogan

Not only did I buy my first crypto right at the tail end of the 2021 bull, I jumped headfirst into learning to code so I can switch careers and contribute to the space. Instantly fascinated with everything. I degen farmed on Polygon and Avalanche when Aave launched and everyone was giving free money for adoption. I also degen farmed about a half eth from the TITAN fiasco, just farming the TITAN token and selling it. I exited it the day before it collapsed, just didn't trust the APY and hype anymore. Apparently I'm smarter than Mark Cuban. I'm still here. Frankly, I've DCA'd enough <$2k ETH and <$30k BTC to bring my average down. I'm actually up a little on ETH. All of my shitcoin purchases are at zero, of course.

Odysseus_Lannister

He’s truly a TITAN of the industry.

CymandeTV

And he invested in TITAN one year ago. Which was a complete scam. Lost his money and said crypto was a bad thing. The guys changes his mind too much for me.

Equivalent-Wedding-7

If you’re only in 110% I wonder about your commitment … add another 10% in TITAN and a dash of OneCoin and you’re good to go

CymandeTV

This is also the guy that invested in TITAN crypto scam. So I would be careful with what he says.

Odysseus_Lannister

I feel like FTT and TITAN are dead and have rugged already but I can definitely add HEX

klanh

LUNA/UST is the obvious answer, but it's funny how that fiasco unfolded pretty much in the same way TITAN/IRON did.

_cipherunknown

I’m most impressed by Cuban. He got rugged by TITAN and is still in the space. One of us (in mentality, not in portfolio size)

_cipherunknown

Mark Cuban also got rugged by TITAN. He truly is one of us.

kirtash93

The funny part of all this is that I have confused Kevin O'Leary with Mark Cuban. It's Mark Cuban, the guy from TITAN, Kevin O'Leary is the FTX guy and Novogratz the LUNA tattoo guy.

Bunker_Beans

So both Kevin O’Leary and Mark Cuban lost money on the TITAN scam? [Cue laughter.](https://giphy.com/gifs/regalmovies-haha-lol-funny-dead-no-dannyglover-laugh-ohnoyoudidnt-done-omg-29HRejgahYenVsohB5)

kirtash93

The same guy who in 2021 bought and shilled TITAN scam coin.

plug_and_pray

TITAN, don't listen o famous people ever (Marc Cuban in this case)

Jending

The Chair of the SEC - Gary Gensler - has said both Litecoin and Bitcoin Cash are NOT "Securities". They are, therefore, "Commodities". Consequently, according to the man in charge of enforcing the rules, they - along with Bitcoin - should be regulated by the CFTC, not the SEC. Furthermore, there are other coins that - by their very nature - are also "Commodities". Digital Reserve Currency (DRC), for example, and TITAN. These will also fall under CFTC regulation. All these coins demonstrably FAIL the Howey Test. Jending

Jending

That's why I hold TITAN. Every coin in existence is held by the Community. There's no vesting schedule, no unlocking algorithms. The supply is fixed, the minting keys burnt. The developers have renounced the project. No one controls it anymore. That's why it can never be a Security. And that's why I hold TITAN. (I'd provide links to verify these claims, but this post would get deleted.) Jending

owncheef

anyone remembers TITAN ? the defi he promoted and gut rugpulled.

z0uNdz

If this guy could predict the future TITAN wouldn’t have went to zero and Voyager wouldn’t have become insolvent.

Odysseus_Lannister

Surely TITAN is the future of finance.

kradn0e1

Let's not forget that Matk Cuban is the same person who endorsed the infamous 'TITAN'. People, do your own research

karakter98

Isn’t this the guy who was scammed by the TITAN project for millions? Or am I confusing him with another “highly intelligent” rich guy? There are too many to keep up with…

kirtash93

Be careful with this degen gambler. He bought and shilled TITAN.

DMCarter_

I'm not convincing you algo stablecoins aren't dangerous; all stablecoins, even fiat-backed ones, can be destroyed. I'm just saying some have clearly worked better than UST and TITAN, and you shouldn't make the assumption because they have the same label. That is all. It is no different than the buttcoiners saying all crypto will fail because some did.

DMCarter_

DAI was a bad example from me I'll admit, and I don't know much about TITAN besides it's collapse. >We've already dropped \~4x from the peak. So a 400% over collateral would be falling apart right now. That's only if no-one interacted with the protocol (as in minting/burning the the stablecoin or reserve coins). Minting and burning those coins requires fees that sent directly to the reserves. SigUSD is basically Ergo's version of DJED, and it has been pretty stable, even when ERG has been tanking this bear market.

chillord

Mark Cuban also believed in TITAN, so I would take this with a grain of salt.

z0uNdz

He doubled down when TITAN went to zero. Ran and hid when Voyager buckled bc his name was attached to it. Two-faced Mark

BMXROIDZ

> Voyager, TITAN, not the best track record. lol man that's only 2 trades. Such nonsense. Dude is super passionate about crypto and I've seen him do like a fucking weekend NFT project just to learn some shit. He's more into crypto than 99% of this sub from a passion perspective vs his money but also that as well.

resipsaloc

What is TITAN?

z0uNdz

Voyager, TITAN, not the best track record. He just has money so can say whatever he wants

J17ster

He truly is a TITAN of crypto

xrv01

now you’re using high school logic. LUNA/UST, 3AC, Celsius, Voyager, BlockFi, FTX, FTX-US, Alameda, IRON/TITAN all blew up in the last year or so. so over the last year or two, please tell me: 1. how many stocks in the Nasdaq/NYSE were uncovered to be actual ponzi schemes? 2. how many hedge funds in the US were stealing from investors? 3. how many banks have went insolvent from re-hypothicating funds?

Maleficent_Plankton

TITAN-ic understatement

CymandeTV

Who invested in TITAN?

juandon_

Oooo that's awesome. I got pwned by TITAN

Electrical_Potato_21

Don't forget Mark Cuban also had TITAN as big crypto opportunity, until it got rugpulled. That doesn't mean he's wrong this time, it just means take it with a grain of salt.

jimtors100

Snapshot soon,what fun post should post should i go with? So many funny words, like 'Luna', 'ICP', 'LUNC', 'TITAN', 'BONE', 'ONE', list goes on.

JuxtaThePozer

Currently sitting here reconciling my tax from around 16th June 2021 which was when TITAN collapsed and like me and many others, Mark Cuban also lost big time. The algo-stable that it supported IRON is still below peg and despite being a warning to us all about the prospect of an eventual collapse with LUNA/UST, well I guess there's a lesson in there somewhere. Anyway, hindsight is 20/20 eh

Tatakae69

Don't forget his TITAN Finance shill. What a Rugpull that one was

skunk_ink

Umm what? He shipped TITAN which was one of the largest rugpulls ever. Didn't seem so sharp on that one.

gnarley_quinn

The warning signs were the previous collapse of the TITAN stablecoin. It failed due to the same reason - a depeg death spiral and occurred only a few months prior to TERRAs collapse. In hindsight, the other red flags were the 20% APY, and Kwon’s immature behaviour online.

pbjclimbing

The fact that he fell for the TITAN scam?

GroundbreakingLack78

Who remembers the TITAN crash or SQUID crash from $2800 to 0??? Oh, that was real crash… 

fanriver

he is a good man ,he do something and i like he !he like TITAN

pbjclimbing

TLDR: Mark Cuban has an amazing track record with crypto advice ranging from TITAN to staking on Voyager. Following his great track record, he recommends you buy the meme coin DOGE instead of the smart contract blockchain ADA no comment...

pbjclimbing

Has he changed his mind on TITAN?

kirtash93

I am sure he hodls ADA. I think he learnt with TITAN.

kirtash93

I still remember when he bought TITAN.

Wonzky

I thought they'd be talking about TITAN or OlympusDAO, didn't think Voyager was actually a Ponzi was it? Just poorly managed?

kirtash93

The same guy that bought TITAN.

kirtash93

I would say that buying TITAN was and is the dumbest shit ever and he bought and shilled it.

kirtash93

Yeah, the guy that shilled and invested hard in TITAN.

inevitable_username

No, Mark, investing in TITAN at a gazillion percent a day is the dumbest shit ever.

Jending

Hold up - What about TITAN? What about Digital Reserve Currency (DRC)? What about other Howey Test Failures? Jending

kirtash93

I still remember TITAN and SQUID. Good old times. Its been 84 years....

pbjclimbing

He must be a victim of the “smart chastity cage” hack and is refusing to pay the ransom in BTC to have his penis unlocked. Must only be willing to pay in TITAN.

kirtash93

They guy who bought TITAN. LMFAO.

GasFun6366

Well, he believed in TITAN too.

365Dillweed365

He’s put his full weight behind TITAN so….

kirtash93

The guy that shilled and bought TITAN. Hilarious.

BenL90

The other stable coin that failed, like IRON or TITAN, already repegged... the problem is, he can't and don't want...

kirtash93

Not surprised, this guy bought and shilled TITAN. Do you remember TITAN?

kirtash93

I still remember TITAN. The first coin I saw die hard.

Frunknboinz

Not to mention the mechanism by which USDC and Tether are created doesn't allow for the UST and TITAN death spiral to happen.

nwz10

After the IRON/TITAN and now UST/Luna algostable coin fiasco... I'm not touching these anymore with a mile-long pole. Crudely put, same shit...different smell. Once bitten, twice shy.

Justin534

Honestly I kinda like my second idea much better too. I was thinking about it a bit more and even if USDD depegs and then repegs TRX will most likely still be lower after the repeg just because there's no way around it: TRX will get minted and diluted when USDD is below $1. It seems like that the whole nature of minting and burning like this actually lowers the risk of the trade, and TRX doesn't need to hyperinflate and go to 0 for the trade to be profitable. Its kind of boggling my mind a little bit because it seems to me traders should be wise to this sort of thing now after IRON/TITAN and UST/LUNA. As soon as traders see a system like this depegging now why would they not all pile into it and 'push over the jenga tower?'

fan_of_hakiksexydays

If we ever get back into a bull market, we'll probably get a new batch of new people. New people who weren't around for the Luna fiasco. They also probably won't be too familiar with what happened with things like ETC, ICP, TITAN, CRO, etc... And we'll probably have to teach them all over again about HEX and Safemoon being scams (if those are still going). There's gonna be so much we'll have to teach. And so many traps many of them will fall into again.

karakter98

Isn’t this the guy who got burnt when TITAN crashed to 0? AKA LUNA before it was mainstream?

throwaway_clone

Burning mechanism for whose LUNA? LFG's? Investors? Who's gonna pay the price for burning their own billions of minted LUNA? I seriously think it's going the way of TITAN/IRON finance and the sooner people can accept this, the faster we can get out of this BS.

P3P3X

Too close to TITAN, the Mark Cuban backed token that went to $0 when it and Iron (algo stable) death spiralled last year ☠️

sholt1142

Tell that to TITAN

Western_Helicopter_6

It’s funny to watch - people did the exact same thing with TITAN after Iron Finance collapsed last year lol

DragonFireKai

It wasn't "promising technology" in 2022. Maybe in 2020 it was a novel concept, but after IRON/TITAN exploded last year, the writing was on the wall for undercollateralized stable coins. Terra made a couple of adjustments to try and add to the stability of the coin. The Anchor protocol was established to push up the value of LUNA, in order to help it get off the ground. The Luna Foundation Guard was set up under the idea that having a strategic reserve of capital that could be deployed at the right time to blunt a downturn. But given that the LFG fund was not only insufficient to bridge the gap between the promised circulating supply of UST and the market cap of LUNA, but it was also held in volatile assets that were themselves dropping against the value of the peg of UST, the kind of correction that could be forced by the LFG was limited, like they needed to pull the trigger at $.96, rather than letting it collapse all the way below $.80 before making the call. So, at best it was a minor evolution of an already failed concept, that traded additional security for increased centralization. However, it wasn't a ponzi scheme. Bitconnect was a ponzi scheme. Bitconnect lied to holders, and claimed that they had an investment mechanism that generated value which allowed them to generate returns. In reality, akin to Bernie Madoff, they took the money that new entrants to the system brought in, and used it to pay the returns for the older participants. Terra operated on a startup model. They were honest that the money that was funding the fabled 19.5% Anchor return wasn't from them loaning out funds for interest, or investing loaned funds in different ways. They were fronting losses from their initial VC seed in order to entice users to the protocol. The increase in user base increases demand for LUNA which increases LUNA's market cap, which can successfully collateralize a larger supply of UST. The idea behind such a model is akin to the modern silicon valley startup, where the money from initial investors is actually given to newer investors to try and improve their market share, in hopes that when you have to cut rates and benefits, you'll still have a dominant enough position in the market that you can become profitable. Terra is kind of like WeWork. It tried to use a startup model to advance an outdated business model that was vulnerable to short term market downturns. It's not fraud in the sense that Nikola or Bitconnect were, but it's just a bad idea that had a shiny wrapper on it.

friendandmachine

TITAN ඞ

cryotosensei

“Are you alright, buddy?” TITAN asked his new BFF, LUNA. After what seemed like eternity, LUNA finally put his hands down from his face. Tears decorating his weary face, he said, “I’m so conflicted. Many people lost their life savings because of me. Other people made profits due to my collapse. How can I make amends to those who lost everything?” “You can’t,” TITAN said gently, “But remember that you serve humanity to the best of your ability *always*.”

nwash57

> UST was supposed to be backed by Luna, whose value was derived from the ecosystem. How can you not see the issue here? The "ecosystem" is a circlejerk of Luna-tangent tokens to pump volume. This was never about innovation, Iron/TITAN suffered the same broken economics, and Do Kwon was literally a part of Basis Cash which also suffered the same fate.

titsngiggles69

TITAN

LifeDraining

How's those IRON TITAN going, Mark from Cuba?