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The whole LUNA debacle wasn’t the first in cryptoland, nor the last. It’s just physics – when pushed far and hard enough either something breaks or the energy is dissipated into oblivion. There were uncanny equivalents in traditional finance – think subprime and Lehman and the tsunami of QE that followed. Blowups will always be a feature of life. The silver lining of course, are the modifications and adjustments made ex post, even for DeFi.

DeFi Lending: Overpromised, Under-delivered (For Now)

The whole LUNA debacle wasn’t the first in cryptoland, nor the last. It’s just physics – when pushed far and hard enough either something breaks or the energy is dissipated into oblivion. There were uncanny equivalents in traditional finance – think subprime and Lehman and the tsunami of QE that followed. Blowups will always be a feature of life. The silver lining of course, are the modifications and adjustments made ex post, even for DeFi.