No. They're not maintaining the stability of each other. If Luna becomes greater than UST. That is, Luna > UST > BTC. Then, there's no need to even use BTC as it's collateralization. But my firm believe is that Luna can never be greater than BTC.
If this is correct then the only problem I foresee is when interest and buzz of UST moves away to other things like the metaverse hype. And the main usecase of UST
I see will be in a bear market as people will get higher % compared to other stables
So sir in my basic knowledge I'm seeing the idea as a circle of Luna > UST > now BTC.
Where they're all maintaining the stability of each other. Am I right?
No. They're not maintaining the stability of each other. If Luna becomes greater than UST. That is, Luna > UST > BTC. Then, there's no need to even use BTC as it's collateralization. But my firm believe is that Luna can never be greater than BTC.
If this is correct then the only problem I foresee is when interest and buzz of UST moves away to other things like the metaverse hype. And the main usecase of UST
I see will be in a bear market as people will get higher % compared to other stables
If there's an implosion of UST, then definitely, we'll see a bear market.
Thanks