This should not happen again: a year has passed since the collapse of Terra

It has been a year since Terra founder and mastermind Do Kwon began “injecting extra capital” into the ecosystem to keep it afloat. On May 8 last year, the algorithmic stablecoin UST began to lose its peg to the dollar, and the LUNA token fell below the plinth. Three days later, the situation became critical. The crypto community remembers these days well: the results of the collapse of Terra were terrible – UST fell from $0.9 to $0.002. And the LUNA token fell by 99%. Together with them, for the company, bitcoin collapsed, pulling the rest of the cryptocurrency market