luna with astronaut for some reason

Move out of UST right now!

By Aldeneer | Techrosmos | 11 May 2022


If you ever read this blog, you know how much I love cosmos ecosystem and Osmosis DEX, but there was a thing that always annoyed me, overreliance on TerraUSD.

UST was a main stablecoin on osmosis and still is (even tho it is now worth only 0.48$ at the time of writing this). Ofc there is EEUR that for some reason is not pegged to Euro and recently main osmosis dex app added bridged USDC and DAI which were only supported on frontier version of it before. But most LPs are still run with UST which might collapse complitely soon!

Currently I am unbonding my OSMO/UST LP contribution and I have to wait 9 days till it unlocks and sadly the value of UST is only going down and down and down...

I hope it recovers but what if it won't?

Economy of osmosis and other cosmos hub DEXes will collapse for some time, most LPs will be useless and a big migration to EEUR and axlUSDC will begin. But these are only my theories.

 

 

 

 

PS: This is not a financial advice

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Aldeneer
Aldeneer

I am a blogger and I want to do something to earn some crypto during this bear market...


Techrosmos
Techrosmos

Blog about cosmoshub cryptocurrency environment and general technology overall. It combines cybersec topics and $ATOM related topics.

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