• @Alexgagne Some idiot invents a stablecoin called "UST" (stable meaning it trades in a 1:1 to the USD), but doesn't back it by actual USD and instead uses a moronic "algorithm" to achieve the 1:1 relationship. The algorithm allows people to exchange 1 UST for $1 worth of Luna at all times. So if UST falls to $0.99, people can buy 1 UST for $0.99 of real money, and exchange it for $1 worth of Luna and theoretically make a $0.01 profit. This moron inventor actually thought that obviously flawed system would work. So naturally when crypto markets go down, the price of Luna starts going down as well, and people no longer get $1 worth of Luna for 1 UST - simply because the price of Luna collapses faster than the rate at which people can exchange the Luna back to regular USD.