Meme challenge #277 Entry #1 It was good till it lasted

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avatar of @twistytango
@twistytangoa year ago
2 min read


I thought i had it sorted

With bank interest rates so low that they are nothing to write home about. We the common folks have been looking to park our funds into higher instruments.

Crypto is risky

By a lot of people crypto is considered as risky. This is on count of a number of reasons. One there is so much tech involved that it becomes difficult to wrap our heads around the various crypto jargon and concepts.

Besides that there is the famous or rather shall one say crypto volatility that can be quite unnerving for most people as one is never comfortable seeing once capital getting eroded.

Yet there is/was hope

One good way of keeping the funds in crypto and beat the volatility risk was to hold the crypto in stable coins.

This was quite true and is still is for a lot of stable coins.

Terra UST and the promise of higher returns

With the opportunity of earning a return of 20% and the value security of a stable coin it was but obvious that people flocked to Terra LUNA and the Terra UST its stable coin.

It was good till it lasted

All was good but perhaps all good things come to an end. The result ? TerraUST Luna peg broke and both Terra and Terra UST its stable coin began to lose value as the stable coin peg broke.

Despite all attempts the fall could not be stopped and investors lost over 40 Billion worth of assets. Quite like the guy in the pic who lost it all owing to the Terra UST crash.

Perhaps a point to ponder upon.

On a fresh note there is a meme challenge going on here

Feel free to participate and who knows you may win a prize if your meme is one of the chosen one ? Good luck folks. Keep Safe Cheers!