Crypto

Luna 2 is in the eye of the beholder

By I simon | Crytpo_Adventure_by_Ira | 29 May 2022


    Luna 2 is seen as either a doomed to fail /scam or as just another Layer 1 with some good / excellent protocol developers.

1)  If you were burned via the LUNA / UST CRASH then you probably see Luna 2 airdrop as a tiny compensation that most will sell off to recover what they can and walk away. Why would they in general see anything positive about this. There are definite bad feelings with Do Kwon and Terra Labs if deserved or not. There was the view that Anchor was a ponzi scheme from the start. There are lots of RUMORS / FUD online like the tweets from @FATMANTERRA. Only time will tell what really happened. 

2) If you were a strong believer in Terra Luna and saw UST as just a failed algorithmic stablecoin experiment that was brought down by a small group of Whales. You  saw unique / excellent protocols being develop like STADER, NEXUS, PRISM, ANGEL, KUJIRA, etc. You can see LUNA regain its place as a high TVL Layer 1 blockchain within the COSMOS. You see that while in the Crypto bear market, having you Airdrop Vested over 2 years may work well.

Only time will tell how many of the Key Developers put effort into rebuilding Luna vice moving to chain like JUNO that have set up funds to help them migrate. It will also tell how many investors are really willing to give the chain another life. I was one who lost a significant portion of my crypto holdings between UST and LUNA. I am somewhere between the 2 views above. I have sold large part of my Airdrop when I first got it. I am watching closely to see where the Developers go.

 

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I simon
I simon

New crypto investor & avid photographer


Crytpo_Adventure_by_Ira
Crytpo_Adventure_by_Ira

My lessons learned by actually using Blockchain Networks and Defi Applications

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