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In response to "Why stablecoins? er, and wait Luna was worth $116 at some momentarily lottery winning point. Aren't they supposed to be 'stable'?" by JD

My understanding is that Luna wasn't a true stablecoin, it was more like a gentleman's stablecoin.

Posted by Beryllium (aka grayman) May 20 '22, 14:28
It tried to balance itself to keep stable, but failed catastrophically.

I could be wrong.

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