It has been claimed that the stablecoin TerraUSD (UST), the chief architect of the Terra (LUNA) collapse in May, was brought into this situation by TerraForm Labs officials.
Famous for the terra collapse FatMan Twitter user named in your post, He claimed that TerraForm Labs itself was behind the stablecoin UST’s loss of dollar stability, which led to the collapse of the entire network. FatMan claims how Terraform Labs with the data presented by Terra will make it to the UST in April 2022. 450 million dollars He focused on what he had invested and how he had withdrawn over time.
Claiming that UST stability was destroyed by Terraform Labs, the user touted CEO Do Kwon and his team as the chief culprit for the rapid rise and crash of UST and LUNA. In essence, there was never a dollar reserve to cover the growing supply and new tokens being released. Therefore, Terra’s downfall was not a “why” but a “when” issue.
According to the data, in mid-April, addresses associated with Terraform Labs’ bots Curve Finance (CRV) in pools TOP started sending. This event, which triggered the collapse of the entire ecosystem, was caused not by an attack, as TerraForm Labs claims, but by the company’s wrong policy. The user is aware of this state of UST. “non-refundable money printing machine” defined as.
Moreover, the correlation between the addresses known to be related to Terraform Labs and identified by the analysts confirms the intervention by the Terra team itself. FatMan, of those most affected by the collapse Anchor Protocol (ANC) also attributes its users to this reason.
on UST deposits 19.5% APYhas DeFi platform was aggressively marketed by Ancher, Kwon, and their colleagues.