LUNA 2.0: What's The Prerequisite For Greed & Fear?
Do Kwon has been the man of the moment for weeks now and this is because of the massive annihilation that happened to LUNA. Sometimes I wonder what went on inside of him and what is still going on inside of him. I mean, I understand that the attack on LUNA wasn't his fault.
Sincerely for a project to be worth over 60 billion dollars, what does this translates to? It translates to the fact that many investors believed in the project and probably believed in the personnel. But he made some questionable calls swapping Luna for BTC to salvage the attack and this was probably because of the tight spot he found himself.
I mean... Being responsible for the well-being of a project with that much money can make a person prone to making decisions that are not well thought out all in the bid to attain salvation. But, judging the man, I'll say he's quite a loud fellow, and this was how the attackers could even cause more harm.
Losing & How It Affects Trust
However, up until now, a lot of people found Luna to be a very good project, which it is.
The peg was maintained by arbitrage, it's a system that has taken the chain far, I mean, the adoption wasn't in contention, the money was there, however the fact that it was susceptible to attack and later attacked.
The blame games happened a lot. This happened because money was involved. No one likes to lose and when this becomes the case, it's difficult to be calm. Different people with their different theories of what went wrong, most of the time these were from pure sentiments.
But then, there's no certainty or guarantee to any crypto project, the risk is always there, we can only try to reduce the risks and block these loopholes because there are people dedicated to exploiting those loopholes, taking the projects to shit, and making away with the crazy money involved.
Finding New Money Interest
However, LUNA 2.0 in my opinion is just meant to further incentivize people to find more value and interest and this is probably what Kwon is doing with the idea of creating something different and giving the opportunity for the airdrop.
I mean, this is a move to secure Luna. Trust is a major issue in the crypto sphere and this is what he's probably trying to buyback. While many people might see this move as being crazy, I don't think Kwon would just let everything go to shit.
he'd probably not go to jail but then he's given everything and he wouldn't let this major hit take the competition out of him.
On An interesting Note
It's thrilling to understand that many people would still throw in more money to benefit from these drops, however, this isn't totally out of commitment or lately to Kwon, to many it's purely for incentivization to make up for their loss.
Another thing is that many people are attracted to LUNA due to the notoriety, trust me, everything about the collapse isn't all negative. Some people have taken advantage of when it was low to buy deep and sold when it started moving up, earning massive money in the process.
I tend to tend this airdrop is to put a bandaid on the wounds and make the wounds a little less gory than it is, but then since it involves making more money, people would surely buy, however to what end and motive? Most people feel that Luna rebranded is dead before its inception and this is probably a little bit unfair.
Dump Or BUILDL?
However, I do believe that there might be crazy dumping when this airdrop is over, I mean people with the big bags might just take the opportunity to own some sizeable numbers in an attempt to take advantage of the drop.
People are trying to stay safe, but this aiming to get more of this drop by throwing in more money contradicts this concept of safety. Most people are duped, hacked, or have their funds stolen in their aim to make more money and we'd still see this narrative play out in the process of this drop.
It's left to be seen whether LUNA would rise like the phoenix after everything that's happened.
Interested in some more of my works?
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