/biz/ - Business & Finance

>>52215071
It’s an extremely fast L1 proof a stake with a proven track record as a top 10 in crypto. It didn’t collapse organically you can decide for yourself why it happened. Most people speculate an attack from blackrock or inside sabotage by Do Kwon or even a mixture of the two. Either way a quantum mint happened and it crashed Luna from $100 to under 0. Millions of dollars turned into thousands. Some call it the largest loss of wealth in history, people were destroyed and many committed suicide. During the aftermath people were lost on what to do and different sides started arguing. Ultimately Do Kwon decided on a fork against the advice of CZ who wanted to just burn the supply. Do Kwon basically jumped ship and left the old chain up for grabs. This is why we have LUNC and TUNA today.

LUNC was going to be listed alongside TUNA on basically every exchange. This needed to happen because Do Kwon wanted an airdrop to pre crash wallets. The problem was Do Kwon needed LUNC to die because all its liquidity and attention belonged to TUNA, but having it on every exchange just drew more attention and gave hope for its revival. The hope drew in the shorters trying to kill the baby phoenix. This was the first big shakeout it was a literal poo-op telling people to sell and buy link and matic instead.

This eventually passed when a group of rebel devs, who work for free, wanted to revitalize the chain. With this break a new villain also appeared, GCR and his faggot disciples, they call themselves that proudly too. This is where the current drama started as the rebels got compromised. At first they wanted to mint more LUNC to create a new coin to airdrop to crash victims we were told it was a sacrifice. Now they want to hand over all governance to 9 people who get paid $60k+ a year to destroy the coin and cash out their shorts.

The inferno is upon us