![]() ![]() Currently, Arbitrum utilizes Ethereum to verify the correctness of its network. Ĭheck out the Web3Wire Linktree to keep up with all relevant Web3 and Crypto!īOLD is a massive technical accomplishment, making Arbitrum chains more secure than ever.īut it's an equally bold statement about what we value at □ - Steven Goldfeder (□,□) August 3, 2023Īrbitrum, a layer-2 scaling solution, relies on Ethereum's security to ensure the accuracy of its state. The Binance platform aims to increase the freedom of money for users and features a comprehensive portfolio of crypto-asset products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization, and infrastructure solutions.ĭon’t forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for BNB Chain and crypto!įor those looking for tools and strategies regarding safety and crypto education, check out the Tutorials, Cryptonomics Explainers, and Trading Tool Kits from BSC News. ![]() Taking into account complaints from its users, Binance made the right decision to help in rehabilitation.īinance positions itself as the world’s leading blockchain ecosystem and crypto-asset infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. The airdrop was meant to revive the Terra ecosystem. Instead, it is a form of compensation to affected stakeholders. The Luna 2.0 airdrop, unlike other airdrops, was not meant to reward any party. However, users argue that they should have been informed in advance to allow them to remove their assets before the snapshot was taken. Therefore, the decision to exclude certain users from participating in Luna 2.0’s airdrop was naturally expected. If UST falls below its dollar peg, it’s possible to acquire the discounted stablecoin and subsequently swap (and destroy) it for $1 in LUNA.Īn investor can earn handsomely while also eliminating UST from circulation and increasing demand for stablecoin.Source: Binance came under heavy regulatory scrutiny in Malaysia and Singapore and had to take steps to comply with the local law. When LUNA is exchanged for UST, however, that LUNA is destroyed.įor astute investors, this presents an appealing arbitrage opportunity. The UST transferred for LUNA is destroyed and removed from circulation each time this swap is done. One UST may always be exchanged for one LUNA and vice versa. On the other side, some community members defended the decision, claiming that Binance CEO Changpeng “CZ” Zhao saved many investors from liquidation by selling a stablecoin for $0.70. The community has reiterated the term “not your keys, not your coins” since clients worldwide cannot withdraw their assets and cited the suspension of Binance’s funds as one of the fundamental disadvantages of a centralized crypto exchange. Users and community members’ reactions to this suspension The Terra stable coins price is maintained by LUNA, which decreases market volatility and keeps the price stable. Luna (LUNA) and TerraUSD (UST), the Terra network’s native currencies, are two blockchain-based initiatives created by Terra Labs in South Korea. Withdrawals were paused “due to a large level of pending withdrawal transactions,” with the business promising to resume them once “the network is stable, and the volume of pending withdrawals” has decreased. ![]() The withdrawal of Terra’s LUNA and UST tokens has been “temporarily suspended,” according to Binance’s official website. As the crypto community continues to figure out Terra’s ongoing pegging-de-pegging dilemma about its stablecoin offering TerraUSD, Binance momentarily restricted withdrawals for LUNA and UST on Tuesday regarding its stablecoin offering TerraUSD (UST). ![]()
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