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Do Kwon Breaks Silence on UST De-pegging, Proposes Recovery Plan

Do Kwon has proposed some remedial measures to aid UST’s peg mechanism. According to the UST backer, an increase in basepool and a decrease in PoolRecoveryBlock should...
Do Kwon Breaks Silence on UST De-pegging, Proposes Recovery Plan Do Kwon Breaks Silence on UST De-pegging, Proposes Recovery Plan

  • Do Kwon has proposed some remedial measures to aid UST’s peg mechanism.
  • According to the UST backer, an increase in basepool and a decrease in PoolRecoveryBlock should help.
  • UST price decline will continue “until parity is reached and spreads begin healing.”

The recovery plan that the Terra community has been waiting for has been revealed as TerraUSD’s (UST’s) primary backer Do Kwon breaks his silence, proposing remedial measures to aid the stablecoin’s peg mechanism.

Kwon proposed to increase the “basepool from 50M to 100M SDR and decrease PoolRecoveryBlock” from 36 down to 18. As also seen on the proposal details page, this measure will boost minting capacity to “$1200M” from the current $293M.

The UST backer assured that “this should allow the system to absorb the UST more quickly.”

Circling back to what caused the de-pegging, Kwon said that UST’s price stabilization mechanism is absorbing 10% of the stabecoin’s total supply. He explained that the cost of absorbing huge amounts of stablecoins all at the same time “stretched out the on-chain swap spread to 40%.” This has caused the sudden Luna price collapse, “absorbing the arbs.”

He said that UST can only start to repeg when the outgoing stablecoin supply is absorbed. “There is no way around it,” stressed Kwon.

According to Kwon, the bleeding will only end once two conditions are met:

With the current on-chain spread, peg pressure, and UST burn rate, the supply overhang of UST (i.e., bad debt) should continue to decrease until parity is reached and spreads begin healing.

Terra USD (UST) price has gone down by 46.6%, trading below 50 cents, at the time of writing. The algorithmic stablecoin is now 54.8% down from its all-time high of $1.09.

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18-05-2022 14:24:25 (UTC+7)

EUR/USD

1.0516

-0.0031 (-0.29%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (1)

EUR/USD

1.0516

-0.0031 (-0.29%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (1)

GBP/USD

1.2421

-0.0069 (-0.55%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (7)

USD/JPY

129.23

-0.17 (-0.13%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (0)

AUD/USD

0.7012

-0.0017 (-0.24%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (2)

USD/CAD

1.2824

+0.0015 (+0.12%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (10)

EUR/JPY

135.89

-0.58 (-0.42%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (0)

EUR/CHF

1.0476

-0.0001 (-0.00%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

Gold Futures

1,813.10

-5.80 (-0.32%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Silver Futures

21.597

-0.153 (-0.70%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (9)

Sell (1)

Copper Futures

4.2045

-0.0278 (-0.66%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (8)

Sell (1)

Crude Oil WTI Futures

110.92

+1.29 (+1.18%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Brent Oil Futures

112.90

+0.97 (+0.87%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Natural Gas Futures

8.181

-0.133 (-1.60%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (9)

US Coffee C Futures

228.63

+3.83 (+1.70%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (2)

Sell (6)

Euro Stoxx 50

3,740.55

-0.96 (-0.03%)

Summary

Neutral

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (3)

Sell (5)

S&P 500

4,088.85

+80.84 (+2.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

DAX

14,190.26

+4.32 (+0.03%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (1)

FTSE 100

7,513.44

-4.91 (-0.07%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

Hang Seng

20,588.00

-14.52 (-0.07%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (1)

US Small Cap 2000

1,840.30

+56.87 (+3.19%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (5)

Sell (3)

IBEX 35

8,526.00

+50.30 (+0.59%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (1)

BASF SE NA O.N.

50.410

-0.280 (-0.55%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (6)

Sell (2)

Bayer AG NA

64.09

-0.03 (-0.05%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (8)

Allianz SE VNA O.N.

201.40

-0.85 (-0.42%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (9)

Adidas AG

182.52

-0.78 (-0.43%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (10)

Deutsche Lufthansa AG

6.842

+0.015 (+0.22%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (2)

Sell (6)

Siemens AG Class N

116.65

+0.15 (+0.13%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Deutsche Bank AG

9.531

-0.007 (-0.07%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (2)

Sell (3)

 EUR/USD1.0516Buy
 GBP/USD1.2421↑ Sell
 USD/JPY129.23↑ Buy
 AUD/USD0.7012Neutral
 USD/CAD1.2824↑ Sell
 EUR/JPY135.89Buy
 EUR/CHF1.0476↑ Buy
 Gold1,813.10↑ Buy
 Silver21.597↑ Buy
 Copper4.2045Neutral
 Crude Oil WTI110.92↑ Buy
 Brent Oil112.90↑ Buy
 Natural Gas8.181↑ Sell
 US Coffee C228.63Neutral
 Euro Stoxx 503,740.55Neutral
 S&P 5004,088.85↑ Buy
 DAX14,190.26↑ Buy
 FTSE 1007,513.44↑ Buy
 Hang Seng20,588.00↑ Buy
 Small Cap 20001,840.30Neutral
 IBEX 358,526.00↑ Buy
 BASF50.410Neutral
 Bayer64.09↑ Sell
 Allianz201.40↑ Sell
 Adidas182.52↑ Sell
 Lufthansa6.842Neutral
 Siemens AG116.65↑ Buy
 Deutsche Bank AG9.531Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,825/ 6,925
(0/ 0) # 1,842
SJC HCM6,825/ 6,925
(0/ 0) # 1,841
SJC Hanoi6,825/ 6,927
(0/ 0) # 1,843
SJC Danang6,825/ 6,927
(0/ 0) # 1,843
SJC Nhatrang6,825/ 6,927
(0/ 0) # 1,843
SJC Cantho6,825/ 6,927
(0/ 0) # 1,843
Cập nhật 18-05-2022 14:24:27
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ↀ Giá vàng thế giới
$1,812.14-2.54-0.14%
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Sản phẩmVùng 1Vùng 2
RON 95-V30.58031.190
RON 95-III29.98030.570
E5 RON 92-II28.95029.520
DO 0.05S26.65027.180
DO 0,001S-V27.45027.990
Dầu hỏa 2-K25.16025.660
ↂ Giá dầu thô thế giới
WTI$110.63+0.040.04%
Brent$112.82+2.251.99%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.955,0023.265,00
EUR23.783,5625.115,95
GBP28.150,0329.351,12
JPY173,94184,14
KRW15,7819,22
Cập nhật lúc 14:17:56 18/05/2022
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