This time I won’t feel sorry for anybody losing money…
… on Terra (2.0)
Let's do a quick recap:
- Launch a algorithmic "stablecoin" backed by almost nothing
- Offer !riskless! 20% intrest to holders of that stablecoin (Ponzi anyone?)
- Ignore every warning about your "stablecoin" beeing not stable at all
- Your "stablecoin" loses its peg
- Blame "attackers"
- Sell your assets that are supposed to back your coin OTC to big investors to make them whole again. (Who cares about small investors…)
- …
- Profit
- repeat
I mean seriously who buys this shit now? Don't expect anyone to feel sorry for you this time. Everyone knows this is is a scam.
submitted by /u/BennyL2P
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