Want to create an interactive transcript for this episode?
Podcast: Who is Satoshi
Episode: 037 Terra Luna UST Crash
Description: Send us a textTerra lost 99.9% of its value just over a week ago. This "decentralized" crypto offered a 20% yield via staking (compared to a bank's .01% interest offered in savings accounts).The stablecoin, UST, lost its peg to the dollar, causing the equivalent of a bank-run on Terra. Terra attempted to peg the UST stablecoin to the US dollar without backing it with U.S. dollars. Terra's solution to their problem was to increase their supply from 386 million Luna tokens to 6.5 trillion Luna tokens, debasing Luna.Leaving us with the question: how can a d...