Are they really though?
https://restofworld.org/2022/argentina-nigeria-terra-crash/ ("From Argentina to Nigeria, people saw Terra as more stable than local currency. They lost everything")
https://restofworld.org/2022/argentina-nigeria-terra-crash/ ("From Argentina to Nigeria, people saw Terra as more stable than local currency. They lost everything")
Unfortunately, twitter does not provide a history of tweets/profiles I have visited; I hope they add something like reddit. Would really like to revisit this account now.
20% APY in dollars was too good to be true.
And when it started to crash most of us quickly converted everything away from it. I lost a few bucks though.
But I had a friend who didn't know better back then who tried to apply the "HODL" meme and yes, he lost everything
It totally collapsed, but not a big deal, because you were smarter than others, so they took the loss in a zero-sum game ("who gets to take the remaining liquidity")?