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@rpren
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As they say, "Speed can kill.". The attractive yield in Anchor plus the "riskless" and immediate conversion between UST and LUNA were a recipe for disaster. In particular as Anchor was a purely financial proposition. With no use case associated with it.
And once that equation changed, i.e. the reduction in yield in Anchor since mid-March, the hot money left. As soon as it could. Damn the consequences for everyone else. Just like with lots and lots ill-thought out financial get-rich-quick schemes over the centuries. This leaves no doubt in my mind that a slow approach to growing HBD is more than worth it.

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