The name literally means “moon” in spanish…if you don’t buy it you’re fucking stupid.
$LUNA
I know some dumbass newbies are reading this article, so let me tell you about the purpose of LUNA. Basically, when UST is minted, the dollar equivalent in LUNA gets burned (and vice-versa). LUNA is there to support UST with whatever it wants to do.
$UST
UST is a stablecoin (I think your dumbass knows what a “stable” “coin” is, right?). You might be asking yourself, “but why another stablecoin?”, well, I have an answer.
All other stablecoins are dogshit.
Now I’m not a Tether-Truther (I think those guys are fucking stupid), but I think It’s safe to say that USDT is centralized (USDC is no different), and that can pose some problems.
UST is the only stablecoin that can’t be censored.
(and keeps the peg pepelaugh).
BUT THIS ARTICLE IS ABOUT LUNA (so fuck UST for now).
Shut the fuck up you zoomer. Mouse is talking.
Let me tell you why at ~$40, LUNA is still the best buy you could make in the Cryptosphere.
The $UST Mechanism
Since I know you like to buy those deflationary dog tokens with your McDonald’s paycheck, I think you’ll appreciate the burning LUNA does everyday.
I won’t show any charts or graphs about how much LUNA is burnt per day, but it’s around ~100,000.
Columbus-5
If you didn’t know, Col-5 is the update Terra went through on September 29. Besides making the blocks fit more transactions, it also makes the staking APY higher and doesn’t send LUNA to the community pool anymore, but forget about that shit, there’s better things to talk about.
The Protocols
This is the best part. At the moment, the only protocols on Terra are Anchor, Mirror, and the recently launched Nexus (there’s also Pylon, Orion, and Valkyrie, but those are old news and/or not interesting to me). These protocols are great, but wait until you find out what’s in development right now. Let me educate your dumbass.
I actually wrote a wonderful piece (:tf: WineTime) on Anchor that you can read by clicking the link below.
Prism
I have looked at a fuckton of tokens and protocols, but none of them are like Prism. Basically, this will take your LUNA and split it into two tokens. With these two tokens, you can stake them to earn yield, LP with them (if you don’t know what LP’ing is…just close this fucking article), borrow against them to leverage yourself…the list goes on.
I’m pretty sure you can borrow against your future yield as well, but don’t quote me on that (mouse is smart, handsome, soon to be wealthy, but not omniscient). If you know of a protocol like this on ETH or any other chain, please link it in the comments, but you probably don’t.
Mars
This is kinda like AAVE where you can lend and borrow, but it’s not just collateralized loans, they will also have uncollateralized ones as well. They also do shit differently with the lines and equations, but who gives a fuck about that shit lul.
All you need to know is this will bring a FUCKTON of capital to Terra, furthering the usage of UST and the burning of LUNA.
Astroport
This is the project I am most excited for. Astroport is gonna be the main DEX of the Terra Ecosystem (and I’m excited for it because TerraSwap is complete dogshit). It’ll have 3 types of pools, a dope ass token that you can get rich off of, and…uhh…yeah that’s basically it.
This is possibly the best project coming out (in 33 days supposedly), because of how dogshit TerraSwap is (yes, I know Loop Markets exists, but that shit looks so fucking bad). Fuck writing about the pool types and the art tho, all I know is Astroport will make Terra SERIOUS.
There’s a ton of other protocols I could mention, but I think that’s enough for now…let’s move onto the next thing.
NFTs
Now, I think most NFTs will trend to 0, but the normies fucking love them…so I’ll write some shit about them.
Buying NFTs on Ethereum sucks because of gas fees.
Buying NFTs on Solana suck because…uhh…that’s what I’ve heard lul.
On Terra
Now I’ve only participated in two mints, but the minting process was pretty good for me. Yes, I did have to send the transaction twice, but at least I didn’t lose $400 in gas fees (pepelaugh), nor did I have to deal with Solanarts’ ugly ass UI.
NFTs are dogshit, but minting on Terra is wayyy better on Terra than Ethereum or Solana.
Anywho…let me stop being mean to the SOL, I wanna tell you how Solana will put Terra on the map.
Terra + Solana
If you aren’t bullish on Solana, then please close this article because you are not very smart and deserve to stay broke.
Now that all the dumbasses have left (except you Sean I see your dumbass is still reading this), let’s talk about how Terra and Solana will dominate the crypto world.
Solana is fire as fuck, but I’m not gonna focus on it here, go read up on that shit somewhere else.
Without getting all technical, UST will become the main stablecoin for the Solana Ecosystem (I think). Why is that amazing, you may ask? The more UST is minted, the more LUNA is burned. The more LUNA is burned, the higher the price of it. The higher the price of it, the richer I get…and the richer I get…the closer I get to fucking your girlfriend.
This is all possible because of Wormhole and IBC (idk if IBC is something different or the same shit but who cares…), which will let you transfer native UST across chains that have it enabled.
Shut the fuck up, Do Kwon doesn’t pay me for this shit, I’m trying to retire you.
Anywho…I want to present you a TerraTopia (like utopia, get it? no? ok fuck you.) where UST becomes mainstream.
The TerraTopia
- Anchor Protocol becomes popular (because who the fuck doesn’t want a 20% stable APY?) and reaches $10,000,000,000 TVL.
- UST overtakes DAI and becomes the 3rd most popular stablecoin.
- The Cardano idiots realize that they can get 10% APR staking LUNA instead of 4.6% staking CharlesCoin.
- Solana blows up (which is what will happen…I have insider info hehehehe), and UST is used everywhere.
- All the NFT normies flock to Terra because ETH gas fees suck dick and the Solana minting experience (from what I’ve heard) is dogshit.
Tell me, what do you think the price of LUNA will be when all of this happens?
But let’s move on.
There’s two rumors I wanna talk about.
Coinbase
As you may know, the ERC-20 version of LUNA was listed on Coinbase like 2 months ago…pretty cool. But lemme give you some secret sauce…There’s a rumor going around that by the end of October (or early November), NATIVE LUNA will be listed on Coinbase.
Now all the people that wanna use LUNA don’t have to go through foreign exchanges, nor use MetaMasks’ ugly ass UI and pay ETH gas fees.
Everything gets easier, thanks to this.
Busan
Everyone knows the beautiful city in South Korea, but most don’t know that Do Kwon (the God himself), has been in talks with the people there about making UST the currency of the city. Now I wouldn’t bet on this happening…but that rumor is out there, and maybe one day it becomes true.
In Conclusion
No coin…*ahem*, I mean, NO FUCKING COIN can compete with LUNA and its brother UST. They are too strong. When I wrote the Anchor article back in July LUNA was hovering around ~$5, and I told you to buy it. Now that LUNA is at ~$40, I am telling you to buy it again. But maybe you don’t wanna buy it. Maybe you like being broke. It sucks to suck I guess.
(you better fucking appreciate how I used halloween-themed emotes this time. Give the article a clap, and tell your broke ass friends to read it. Share the knowledge.)
