We see opportunity in failure.
UST made news and many think it is the beginning of the end. In reality, it is only the start of something better.
In this video I discuss how complex systems that operate freely are already working on other solutions as failures are taking place. This is because of the lack of centralized planning. So while many point to the failure of UST, those of us on Hive believe we were already working on the successor in that we have something that is better designed and with more safeguards in place. We will see over time if that view is correct.
▶️ 3Speak
There is a wild price movement in the crypto market. People usually think having Stablecoins are the safest way of holding their value. UST shows that it is not.
People will be more careful to put their money on Stablecoins. Founders and developers of Stablecoins will pay more attention to it so that they can eliminate its flaws. And that's a good thing.
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Maybe for the UST as a stablecoin.
According to a message on CoinMarketCap, "The Terra blockchain has officially halted and UST has remained de-pegged from the US dollar since 9th May 2022".
But there are still people, who support this project, and buying UST/Luna.
TerraUSD (UST) is currently worth $0.1808 USD, and I read that the team behind it "make more actions quickly", and that they are working to rebuild it.
I think UST highlighted a lot of failures that can happen in this space. If the projects don't pay attention and try to solve these issues, then it could also happen to them. In a way, it's paving the way for a stronger stablecoin market as everyone knows about the issue.
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STOPSomehow the fall of UST is a wake up call for the other stablecoins to get checked of their integrity if that's the right term for it, or stability that is.
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I am studying the design of stable coins, and at first glance the old stablecoins like TUSDT Tether look the safest. But HBD as an algorhythmic stable coin seems to have many protections against the type of attack sufffered by UST, so I am confident, but learning more.
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I agree with you 100%:
My dad use to say, run towards the problems not away from them, because thats where the opportunities are to excel and make an impact.
I think this is a very important time for Hive to publicize how HBD is different. I am writing posts and linking them to your posts, because that is called "backlinking" and it is known to increase your SEO rankings. And that increases your Google Traffic to your posts and to Leofinance.
Stablecoins are trending to, so writing posts on them makes your posts rank higher and increases traffic to them.
We must strike while the iron is hot, while this is buig news, before the news cycle moves on to the next big thing!
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