'UST/Luna Meltdown & The Lessons That I've Learned So Far' by nghuubaotrung decentralizedinternet quicknode
Note: This article is for informational purposes only. It should not be considered Financial or Legal Advice. Not all information will be accurate. Please consult a financial professional before making any major financial decisions.
This is also the reason why I’ve used automated bots to take care of my crypto portfolio since the bear market in 2020.If you think that you can easily liquidate your crypto assets, once the crisis hits the market, please think twice. Centralized exchanges such as Binance, Crypto.com, or Kraken have several tricks to not let the money go out of their exchanges:They lock assets for certain periods.
For example, in the case of the UST/Luna pair, a good regulation could be obligatory token/algorithm audits. If UST went through such audits, the possible bugs/errors of the protocol could be revealed at an early stage. Many people think that regulations are scary.They believe that if digital assets are getting regulated, they will lose their value.There are good regulations and bad regulations and of course, we desperately need the good ones for the future of crypto market.
This is also the reason why I’ve used automated bots to take care of my crypto portfolio since the bear market in 2020.If you think that you can easily liquidate your crypto assets, once the crisis hits the market, please think twice. Centralized exchanges such as Binance, Crypto.com, or Kraken have several tricks to not let the money go out of their exchanges:They lock assets for certain periods.
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