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RE: Ask Leo: What Have You Personally Learned From Terra LUNA/UST Collapse?

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3 years ago

Sorry about your loss.... these things happen. I don't think it's due to that anyway. Even with alot of knowledge, people still fell.

Its a case of trust. Luna had alot of people trusting them

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@gadrian75

3 years ago

Trust makes us do stupid things with our money sometimes. Even when I started to learn some worrisome things about UST, I didn't move some of those funds elsewhere (like in HBD), for several reasons:

greed (better yield on the LPs)
lack of alternative stablecoin in the Cosmos ecosystem
inconvenience of moving the funds (14 days unbonding + bridging them via probably more than one blockchain)

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