… 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.