5 first-principal lessons from Terra/Luna fallout, for future stablecoin investors, builders, and regulators 👇 First I’m not gonna recount Terra/Luna de-peg saga here. If you need a rundown of what happened, check out @laurashin ’s excellent podcast episode. Let’s 1st get clear on what the stablecoin biz is abt. The nature of stablecoin business: Almost all stablecoins, regardless of design, involve you, the user, give a stablecoin issuer X amount of assets in exchange for Y amount of a token that’s priced at $1. Exchange btw stablecoin issuer & you is an exchange of risk (or volatility). You the user, don’t like ... (full story)