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    Gate.io's Risk Warning of Algorithmic Stablecoin UST De-pegging and LUNA Circulating Supply Surging

    Create Time:2022-05-12 05:29:42 UTCRead:32604

    Recently, Terra's native algorithm stablecoin UST has been de-pegged. Its unique price stabilization mechanism has led to a surge in the circulation of LUNA, and the price has dropped sharply.

    At the same time, Terra Research announced a proposal to increase the minting capacity of the UST stablecoin to $1.2 billion. Terra's official blog proposes to increase the BasePool from $50 million to $100 million in SDR(Special Drawing Rights) and reduce the Pool Recovery Block from 36 to 18 blocks. This will increase UST minting capacity from $293 million to $1.2 billion. If the proposal gets approved, the circulating supply of LUNA will rise rapidly by then, and there will be a significant drop in the price.

    1164 | Parameter change proposal: https://station.terra.money/proposal/1164

    Gate.io's Risk Warning: you should only trade LUNA when you fully understand the risk.

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    Gate.io Team
    May 12th

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