In last 2 - 3 weeks, I’ve noticed that LUNA price action as well as ANC have been underperforming the general crypto market (with all crypto including BTC in a bear market).
Having said that, LUNA & ANC have been doing worse in last 2 - 3 weeks.
Is this related to ANC running out of yield reserve or some shady association with abracadabra(degen box) and wonderland or perhaps both?
We all want LUNA ecosystem to thrive but price action for LUNA & ANC have deteriorated - much more so than other altcoins. This is concerning to say the least from my perspective.
What plans are being implemented by TFL team to deal with these concerns, if any?
For example, are there plans by TFL to inject more UST to get ANC going for a while until some long term sustainable actions are put in place? ANC is the center piece for LUNA ecosystem so I have to believe there is an urgent priority to fix the low ANC yield reserve & clean up any Anchor protocol shady association with abracadabra (degen box) and wonderland.
If you’re that concerned you could take the time to read through the dozen posts regarding the yield reserve… but I’ll do the TL;DR.
Price action? It’s a free market, BTC is down 50% and so is Luna, hardly worse than others. ANC is doing what every other Terra Alt always does, people mostly sell to protect loans and buy more Luna.
Yield Reserve, it’s a concern but has been stated that it’s not as big of a deal as everyone seems to believe, if it goes to zero ANC could still sustain above 14% APY on deposits. Are we getting another yield bailout? Possibly, Do Kwon tweeted about it.
Shady associations? Well I don’t know any, you’re referring to the whole situation regarding Danielle (hardly shady anymore, since it’s all in the open) but there’s no association, Abacadabra is a client of Anchor Earn, in an open protocol you can’t (and shouldn’t) do any “cleaning up”.
I cant understand how people go as far as taking the work to searcg for a forum and create an account but cant bother to read previous posts, twits, discord, etc.
It’s just a price correction and fud regarding abracadabra, time and one of it’sfounders. As well as some fud about depegging which was clearly proven wrong.
That’s it. Prices do their thing. Devs do their thing.
check the pinned threads for an idea of where we are headed. its normal for luna to be down when bitcoin is down it’s just how the market works.
Thank you for this feedback! Appreciate it.
Yes, my apologies…I may have missed some previous posts. I am new to the crypto & am trying to get a better handle on it. Appreciate the feedback!