Chainalysis: Terra's UST Collapse tsis yog qhov tseem ceeb hauv Bitcoin Crash

Blockchain analytics platform Chainalysis tau tso tawm ib daim ntawv qhia tsom xam qhov sib tsoo ntawm Terra's stablecoin UST, xaus lus tias nws thaum nws yog a qhov tseem ceeb hauv kev lag luam crypto tsis ntev los no, nws tsis yog qhov kev txiav txim siab.

Hloov chaw, tsab ntawv ceeb toom nyeem, "lub lag luam crypto kev poob qis tsis ntev los no zoo li cuam tshuam nrog kev lag luam thev naus laus zis poob qis dua li UST qhov kev puas tsuaj."

Raws li Chainalysis, BitcoinKev sib raug zoo nrog cov khoom lag luam thev naus laus zis yog "kev txhim kho tshiab," nrog rau cov thawj coj cryptocurrency tswj "tus nqi tseem ceeb" nrog rau NASDAQ-100 Technology Sector Index thiab S&P 500 Index hauv 2022, thiab poob hauv kev hais kwv txhiaj nrog lawv.

UST qhov kev sib tsoo tau ua rau Bitcoin qhov kev poob qis zuj zus, Chainalysis pom, tab sis cov txiaj ntsig tau "ua neej nyob luv," nrog rau qhov kawg ntawm qhov kev poob qis nrog rau qhov ze ntawm UST lub cev qhuav dej. Tom qab no, Bitcoin tus nqi ua "poob rov qab rau hauv txoj kab nrog cov khoom tsis yog-crypto tech."

Qhov kev sib tsoo tseem ua rau muaj kev kub ntxhov hauv kev txhiv dim ntawm cov nyiaj npib ruaj khov, nrog cov ntaub ntawv los ntawm kev sib pauv qhia qhov nce siab hauv kev lag luam ruaj khov ntawm 9th Tsib Hlis thiab 12th Tsib Hlis, thaum Terra lub cev qhuav dej.

"Txhua yam ntawm cov tub ua lag luam muag lawv cov nyiaj ruaj khov thaum lub sijhawm sib tsoo, los ntawm cov neeg ua haujlwm loj, cov koom haum mus rau cov tub lag luam muag khoom," sau Chainalysis.

UST poob li cas?

Thaum Lub Tsib Hlis 7, 2022, Terraform Labs (TFL), lub koom haum tom qab Terra, tau ua tiav cov phiaj xwm, tshaj tawm tshaj tawm tawm ntawm $ 150 lab los ntawm 3 laug, Curve liquidity pas dej ua ke. 

Tab sis tsis ntev tom qab qhov kev tshem tawm tau ua tiav, ob tus neeg siv tau pauv kwv yees li $ 185 lab UST rau USDC nyob rau ib ntu ntawm ob teev, tawm tsam lub pas dej tsis zoo uas muaj dej tsawg.

Hauv kev teb, TFL tau thim lwm 100 lab UST los ntawm 3pool kom rov sib npaug.

Ob qhov kev lag luam loj ua rau UST plam los ntawm nws cov nyiaj daus las, ua rau muaj kev muag khoom loj hauv kev sib pauv uas ua rau lub peg swb ntxiv.

Thaum Lub Tsib Hlis 9, hauv kev sib zog los cawm lub npib peg, Luna Foundation Guard (LFG), tus neeg saib xyuas ntawm UST, tau muag ntau lab tus nqi ntawm nws cov Bitcoin reserves rau counter-yuav UST los ntawm kev ua lag luam.

Txawm li cas los xij, nrog nws cov peev nyiaj tsawg zuj zus, LFG tsis tuaj yeem cawm UST los ntawm nws cov kauv tuag.

LUNA poob li cas?

An algorithmic ruaj khov bitcoin, UST tus duas peg yog tswj hwm by ntse ntawv cog lus- raws li algorithms.

Lub algorithm uas khaws UST ntawm nws cov duas peg yog mint-thiab-hlawv mechanism ntawm LUNA thiab UST.

Yog tias tus nqi ntawm UST poob qis dua ib duas, cov tub ua lag luam tuaj yeem hlawv 1 UST rau $ 1 tus nqi ntawm LUNA, tshem tawm ntawm cov khoom. Cov minted LUNA tshiab tuaj yeem raug muag, nrog rau cov tub ua lag luam pocketing qhov sib txawv raws li cov nyiaj tau los.

Yog tias tus nqi ntawm UST mus siab dua ib duas, cov tub ua lag luam tuaj yeem hlawv $ 1 tus nqi ntawm LUNA rau 1 UST. nrog UST trading ntawm ntau tshaj ib duas, cov tub ua lag luam tuaj yeem muag cov minted tshiab UST kom tau nyiaj.

Cov khoom siv dag zog-xav tau qhov sib piv tau ploj mus thaum UST poob nws cov peg, sai sai qhib lub sijhawm loj arbitrage.

Cov neeg siv yuav tsawg dua UST los ntawm kev sib pauv thiab hlawv rau $ 1 tus nqi ntawm LUNA. Yog li ntawd, LUNA tau minted en masse, nrog rau qhov tshwm sim hyperinflation hauv LUNA cov khoom xa tuaj rau tus nqi token plummeting 100% hauv tsawg tshaj li ib lub lis piam.

Terra qhov kev puas tsuaj loj heev tau txais kev saib xyuas los ntawm cov tswj hwm thoob ntiaj teb, nrog rau ob qho tib si US Securities Thiab Exchange Commission (SEC) thiab Cov kws lij choj South Kauslim qhib kev tshawb nrhiav hauv kev sib tsoo.

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