just pegged algorithm not working now and luna or Ust become shitcoin which is make alot investors suffer huge loss now. we dont know what's going to luna and developers team but the certain thing is they failed build stable coin. moreover i read in twitter ,LUNA CEO was team from stable coin project that failed. maybe no more trust to DO Kwon and Luna team since this accident happen. Luna from hero to zero , from top 100 coinmarket become shit coin. History will note this as most dramatical dump.
The CEO already released a series of update and proposal on the current situation. They still don't have exact plan on how resolve the issue immediately. As per CEO, The UST of the dumper needs to be absorb by the orderbook and there's no way to repegged it to 1$ while someone is still dumping. They are proposing for the increase of liquidity but this means that they liquidate some of there altcoins or bitcoins just to buy back UST. This crypto market crash will not stop unless LUNA and UST value become zero.