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RE: Ask Leo: What Have You Personally Learned From Terra LUNA/UST Collapse?

in LeoFinance3 years ago

Apart from the obvious ones that everyone has mentioned, This is a reminder to be very careful of projects run by brash, egocentric founders. The bigger the ego, the more caution is needed.

Also, if you see lots of criticism of a project across twitter, pay closer attention. I was seeing all sorts of warning signs for months, but didn't pay attention. My bad.

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I regret two things the most. I didn't check out Do Kwon. If I had done so, I would have exited UST and LUNA immediately.

The other thing which I regret is that I also started to see and read the signs about UST, but chose to ignore them. My biggest deterrent was the 14 days unbonding period. If I could have accessed them immediately I think once or twice I was prepared to move at least partially to other places.

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