All this drama and garbage surrounding LUNA and TerraUST, meanwhile exactly zero people can explain to me the purpose, utility or usefulness of either one. Especially when other solutions already exist.
Waiting for Do Kwon himself to come in here and debate me on his garbage coins.
Because he would lose that debate soundly.
The emperor has no clothes, and his size is not size.
Personally I had never even heard of them until the crash. And I have looked at stablecoins recently to use in trading instead of fiat to simplify tax declarations. I chose USDC, seemed better than USDT. Both are backed by fiat on bank accounts (supposedly...).
An "algorithmic" stablecoin makes no sense, and one that is part of an "environment" with another coin that gives interest makes even less sense.