Understanding Terra/LUNA de-peg
7 min readMay 17, 2022
Given that UST aimed to function as a form of money, it’s probably apt to start with how money has evolved.
=>Our starting point is when gold began to be broadly accepted as valuable.
=> Empires started putting their seal on gold coins and that was used as currency.
=> Empires reduced the amount of gold in each sealed coin without reducing the face value of…