How pHBD saved my ass from the UST bloodbath 😎
About 5 days ago, we've been seeing crazy drama in the crypto space. I don't have to go deep on the $LUNA and UST ups and downs lately because I believe we all saw the drama. I know some people are in a dark place right now and it's not your fault to a great extent on what's happening to Luna 🙁. If you had the opportunity to travel back in time, you'd have made a good decision and get yourself outta the mess before shit hit the fan. That's crypto for you. Any investment you doing in this space, no matter how sure you are concerning the risk- even if the risk is 0.3%, still put that into consideration, ask yourself... what if it goes wrong? 🙁. I really hope Do Kwon finds a way to fix this. If you didn't get burnt in the crazy attack, you're really lucky and you should watch your back too. Crypto is a crazy place, always do your own research before investing and if things go south, take responsibility 😐 and don't point fingers. I believe that'd help you move on quickly. I was going through my feed on Twitter today, it was terrible to see people get rekt even though people made fun of them (Twitter is a crazy place 😆), I felt bad. Because for every USDT you lose today, that's a potential $80 in the next bull market if invested well. 🤔
Here are some of the testimonies 🙁
Seeing stuff like these hurts. It could happen to anyone.
This % loss is ridiculous tho 😆. Please do your research and be alert when you're in any trade.
How did I pHBD helped me escape this bloodbath?
I had a cool amount of UST staked on Mexc exchange, getting a fantastic 15% APR. By late March/ early April, when hive witnesses increased the APR of HBD in savings to 20%, I was confused and wanted to get in. Of course, 20% is better than 15% but there was scarcity problem on HBD so I had to just leave it. Last month when the Liquidity pool for pHBD-USDC was launched by the Polycub family, I had a decision to make. I couldn't resist the whooping 58% APR offered 😆 so I decided to unstake and start moving them to the LP.
Seeing the levels UST fell to today, I'm sure I would have panicked and sell at a crazy loss
Imagine selling at this point 😮.
The result of the attack for me is bittersweet- I feel bad for those who lost money but I'm happy I didn't get ruggpulled on 😆 and I believe with things like these happening, we'll get more smarter Defi projects or the ones we have lately would adjust to a more secured mechanism so as to avoid a de ja vu (if that's possible).
Do your own research before investing. Stay safe guys, I'll catch you on the next one ✌ 😎