Best course of action?

I see people pulling more money out of anchor and the peg has slipped further today. I believe UST will regain it’s peg but this has also showed me I have way too much money on Anchor. I will need to re-balance my portfolio when the dust settles.

Do you guys believe UST will regain it’s peg?

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it will just give it time this is probably the biggest bank run in defi history. like some 8bn gone. It’ll take some weeks or months for this to all to weather off UST will be at beg but luna price is whats going to be obliterated in the aftermath.

so yeah, hold your ust until its worth a dollar, sell your luna, this isnt fud just how the function works. the market will stabalize but maybe our dreams of $1000 luna will become dreams of $100 luna as we’ll have a permenate and sizeable increase in luna supply from this event. would be interesting if this was the tactic to win the million dollar bet kwon put.

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More importantly, if & when the UST peg is restored (hopefully), how does TFL restore investors confidence in UST algorithmic coin due to significant depeg risks - albeit, USDT also had a depeg issue in the past.

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Looks like if they can keep UST at arb profitable price for 2 days we can restore peg via on chain arb.

they wont be revealing any plans until after its successful otherwise they expose themselves to another attack by the same actors.

most likely jump raised 1b+ in addition to what lfg had, is it enough? Well that depends on the collective value of all the dapps and terra ecosystem products.

Staked luna derivatives are the first and primary option, in conjunction with luna staking. After that we have a nft ecosystem and then swaps and money markets backing the ecosystem. expect a long term sell off of other terra assets even after peg is restored but everyone knows this already.

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I would sell my Luna if I could but I’ve got a shit ton locked up in staking pools. Having a 21 day unlock period of Luna but no unlock period for the billions locked in Anchor now looks kinda silly.

Well, I really hope you’re right about UST repegging. At this point I’m either going down with the ship or it repegs.

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your either gonna be the happiest or most miserable man alive in 21 days. No middle ground after this.

I got totally blown out but to be frank the amount of money borrowed and sold on anchor (at or above peg) over I could probably double the luna stack I had on anchor. I’m still expecting sell off even after the peg though so I’m waiting for the dust to settle before so. mixed feelings about not having my eth on anchor but overall it was for the better, protected myself being diversified and borrowed out from this.

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I have accepted my luna is going to be worthless. We’ve all gotten hit really hard over the last few days. What a complete and utter shitshow. I’m more worried about my UST than Luna at this point.

Ok the peg is getting even worse. I should have just taken the 15% hit. Jesus F Christ. The silence from Do Kwon is kinda deafening at this point.

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And it’s not like night time for him. It’s middle of the day in Korea.

Terra is starting to look more and more like one of the plentiful and very common Korean “investment firms” (Kwon has consistently exhibited many of the characteristics of actors behind such). Korea has a long standing history of many fly-by-night firms taking in investors’ money and then it all disappearing.

we are getting proper f****d here. can’t even withdraw from anchor to save at least a few thousand. what a shitshow. serves me right for being greedy.

I already made back my capital plus by arbing ust vai wormhole and solana:

path to go:

buy luna with UST on terra station, send luna to solana wallet, swap luna for ust on jup.ag send ust back to terra.

you can keep doing this and earn real net profit regardless of luna price tanking. luna was tanking like 5% a second while I was doing this. bots started catching up though so I wouldnt do it until the solana network is less congested, which wont be for a while because everyones doing this for mad cash.

can probably run luna into the ground ourselves and earn 600-1200% a day. It only took me a few hours to recover my capital (dollar denominated before start of crash).

edit: this opportunity should be open until all the UST is burnt for luna basically regardless of ust and luna price…

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this is literally just fear mongering lol, you can still arb for profit as we speak using terra market module.

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Correct, the peg will be fought for with the seignorage mechanism. Trust has been lost, so it’s going to be very volatile and it’s anyone’s guess.

We have not lost faith in Anchor. It is going to be a long hard road. But we plant to take it.

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I saw Do’s post but do you really believe the peg will recover?

My heart sank last night when I saw the peg go to .20.

Wondering if I should just take a hit and get a portion of it out.

Perhaps put in a few limit orders at various prices (higher from current). So if the rate goes up, at least a portion gets sold. If rate goes more up, another bit gets sold. Sort of “DCA out.”

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hi @majinraptor yes you can have your anchor unlocked and withdraw what is left, because of the current situation with luna. you can now unlock all stacked anchor.
I will suggest you talk with an Anchor Developer on the live chat Developers support page (www .forum.anchorprotocol.live/ to engage in a conversation with Anchor support. so that you can get a response from Anchor support and have the transaction looked into so as to resolve it right away so you can proceed with unlocking your anchor and withdrawal.

Oh piss off. even at a time like this you people are out here