Not a lot has changed since my last update regarding Luna/USDT. It looks like Luna has been moving sideways for days now while the entire market has been moving in an upward trend. It looks like the Luna price is consolidating sideways until more money floods into Luna. I would like to note that Luna is dominating the DeFi space in terms of Total Value Locked of 7billion. The amount of liquidity that is coming in is pretty incredible. The anchor protocol is pretty easy to use and very quick, though I would like to add in my experience, the spread is quite high therefore you will pay a lot of hidden fees. In my experience I went from trading and bonding 37,000 usd and lost 4,000 in just swapping fees. In my next venture with Luna, I am only going to swap for Luna through the polygon chain and hold and sell the tokens and not use Terra Station or Anchor protocol.
In my next evaluation I will see if Luna has been outperforming Ethereum.
I’m guessing it’s not a spread, but the premium on “instant burn” when redeeming bonded Luna via swap instead of unbonding via Anchor.
WiThConFi
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@Spaydh, aha I think this is correct. I don't remember unbounding on anchor but swapping it out on terraswap.
Spaydh
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@WiThConFi Ahaha that explains the 4,000$ difference then ^^ The premium varies depending on how eager people are to unbound there LUNA, meaning some people are actually buying bLUNA and unbonding it through Anchor to get alpha on LUNA's price appreciation.
@WiThConFi, well, at least the next time you use Anchor will be much more affordable ahahah
litecoinlawrence
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how did you lose 4k from fees? Terra fees are super low
WiThConFi
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@litecoinlawrence, You know that is exactly my thought when I was using the swap. But I believe there is a spread/fee for every Luna you trade and bond.