RE: UST: Incompetence, Greed, or Both?
Seems like you didn't read my post because I said about a dozen times that it is a decentralized project.
If UST project was really decentralized, LFG would be a DAO where a smart contract would trigger the need of actions to sell the LFG assets to keep the UST peg. However, in this case was some people that need to do everything and will not send the assets through a lot of wallets and each transaction let some part behind.
Another thing, during the problem the blockchain rule it was changed to be able to print more LUNA per day. In a true decentralized project, this needs to be voted and have more than 51% of the votes.
Instead, to start to print an infinite Luna's if they used the LFG assets correctly to buy back UST and keep the PEG much of people would not do a desperate conversion to Luna and Luna will not go to almost 0$.
Since they halted the chain when there was almost no return possible, maybe they should halted the chain when everything started to give them time to do everything.
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