LogFAQs > #964997523

i didn't really follow luna since i only transact in the ethereum ecosystem and only really invest and build in the middleware space these days.

riding out 2018-2019, i watched far too many ambitious new projects emerge and die paintful deaths, bringing their investors to financial ruin, and so i've traditionally regarded ambitious and untested new concepts with skepticism and shied from trying to pick winners in the smart contract platform wars.

from what i've gathered about luna, it was a disaster waiting to happen. never mind the luna token going to absolute zero, the worse tragedy was that its poor engineering decisions and undercollateralization adversely affecting its native stablecoin, so this fiasco effectively screwed not just speculative luna buyers but also more risk-averse ust holders. a number of analysts called it ahead of time, even describing the very scenario that played out, but the project's lead arrogantly dismissed the warnings and insulted the analysts.

despite all the idealists in this space sincerely trying to create a better system, the sector also attracts a lot of terrible people.