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Then I would suggest you search it out as it is quite an interesting case from which we can learn a lot, but in a quick summary:
Basically Luna network had a token called UST which was pegged to the US Dollar that maintained its peg through algorithms and when the market price for Luna started to dramatically fall in the current market crash this broke the $1 peg that UST had and since the technology failed and UST which was supposed to be $1 started to fall resulting in the collapse of the entire project.
Again this is just a genral overview do learn more about this incident on our own
Now some of you might be thinking why is this guy always losing $10!?
The answer to that is:
I am poor
I usually put in $10 into anything new (Which is the minimum by SideShift)
Couple of days ago I posted about an airdrop by LEAP Wallet where you needed to download their wallet and do some activity like token swap to get their token.
I thought ok I'll try it the only problem was that it was on the LUNA network and need Luna to do anything on it. Since I was in a good mood that day I decided to convert $10 worth of my BitcoinCash into Luna through SideShift (Big Mistake)
By the way since the crash SideShift has disabled Luna from through platform
I initially thought that I would convert the Luna back to BCH after doing some transaction but my calculations turned out to be wrong and after doing a swap the Luna fees ate away more than what I hoped and I didn't have enough Luna to met the minimum amount required by SideShift to convert back to BCH
I had the choice I could convert more BCH into Luna and then convert everything back to BCH but then I would have lost more BCH in fees (which isn't that much on SideShift anyway)
Anyways I thought I'll do a few more swaps and get more LEAP tokens than when the price is right I'll do some swaps and make more Luna. (Boy was I wrong)
Then the crash happened
Luckily it was just $10 and most of my Crypto is still in BCH (which has also fallen to $200)
Now my biggest bet is in BitcoinCash and hoping for 10x on it when it reaches $2,000, whenever that happens in a year or a decade who knows, then I'll have $2,000 in Crypto.
I have always said that we only associate ourselves with the projects that have actual use case and stay away from hyped and meme-ed projects.
I got greedy for that airdrop and since Luna was in the past a good performer I thought what the heck. But the thing is a project with the sole purpose of pegging a stablecoin that to without the collateral assets was doomed to fail.
Only invest what you can afford to lose
This is the most important, even when everyone was FOMOing into Luna when it first shot up, I held onto my 1 BCH how Gollum would hold on to the One Ring.
It was only when I had more than $10 above my 1 BCH that I converted it to Luna for that stupid airdrop.