The CEO of Binance explained why he and his team were disappointed by Terra’s actions following the recent project meltdown.
The world’s largest crypto exchange suspended LUNA and UST spot trading shortly after doing so to the LUNA coin-margined perpetual contracts. The company’s CEO took it to Twitter to offer his view on the matter.the saga that transpired with Terra and its two native cryptocurrencies – LUNA and UST. The latter, being an algorithmic stablecoin, essentially allowed users to profit by arbitraging it against LUNA ever since it started to de-peg from the USD .to over 6.
Changpeng Zhao outlined these “flaws in the design of the Terra protocol” in his Twitter thread and touched upon the project’s decision to
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