Gate.io's Risk Warning of Algorithmic Stablecoin UST De-pegging and LUNA Circulating Supply Surging
2022-05-12 05:29:42 UTC
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Recently, Terra's native algorithm stablecoin UST has been de-pegged. Its unique price stabilization mechanism has led to a surge in the circulation of LUNA, and the price has dropped sharply.
At the same time, Terra Research announced a proposal to increase the minting capacity of the UST stablecoin to $1.2 billion. Terra's official blog proposes to increase the BasePool from $50 million to $100 million in SDR(Special Drawing Rights) and reduce the Pool Recovery Block from 36 to 18 blocks. This will increase UST minting capacity from $293 million to $1.2 billion. If the proposal gets approved, the circulating supply of LUNA will rise rapidly by then, and there will be a significant drop in the price.
1164 | Parameter change proposal: https://station.terra.money/proposal/1164
Gate.io's Risk Warning: you should only trade LUNA when you fully understand the risk.
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Gate.io Team
May 12th
At the same time, Terra Research announced a proposal to increase the minting capacity of the UST stablecoin to $1.2 billion. Terra's official blog proposes to increase the BasePool from $50 million to $100 million in SDR(Special Drawing Rights) and reduce the Pool Recovery Block from 36 to 18 blocks. This will increase UST minting capacity from $293 million to $1.2 billion. If the proposal gets approved, the circulating supply of LUNA will rise rapidly by then, and there will be a significant drop in the price.
1164 | Parameter change proposal: https://station.terra.money/proposal/1164
Gate.io's Risk Warning: you should only trade LUNA when you fully understand the risk.
Gate.io is a Cryptocurrency Trading Platform Since 2013
Top ranking, Trustworthy, Transparent
Sign up to enter the crypto gateway and get 40% commission from referrals
Download iOS/Android App right now.
Reach out to us!
Twitter: https://twitter.com/gate_io
Telegram: https://t.me/gateio
Instagram：https://www.instagram.com/gateioglobal
Medium：https://medium.com/@gateio
Podcast: https://gateio.buzzsprout.com/?ch=buzzs
Gate.io Team
May 12th
