USDT briefly loses peg after the collapse of LUNA and UST. Do Kwon publishes a ‘Terra Ecosystem Revival Plan’ outlining the way forward.

Key Takeaways
Tether (USDT) briefly lost its dollar peg this week, dipping as low as US$0.95 on Thursday as the collapse of LUNA and UST shook the market’s confidence. However, the $1 peg was restored by Friday. At the time of writing, USDT is trading slightly under $1, at $0.9989.
Celsius reportedly removed at least $500M from Anchor during the recent UST turmoil. Founder Alex Machinsky took to Twitter to deny recent rumours of losses as a result of market volatility.
UST’s depegging continued this week, with LUNA falling to below $0.01. Do Kwon published a Terra Ecosystem Revival Plan over the weekend which aims to lay out the way forward for the ecosystem.
This week’s price index was negative at -33.72%, while the volume and volatility indices were positive at +67.25% and +230.03% respectively.
Highlights
Terra, Luna, and UST: How we got here
Lido Warns Leveraged Traders at Risk of Liquidation as ‘Staked Ethereum’ Loses Peg
Lido Deploys Additional Curve Pool to Improve Liquidity Around Bonded ETH Peg
Terra fork won’t work, according to Binance CEO
UST’s Do Kwon was behind earlier failed stablecoin, ex-Terra colleagues say
Tether to move over 1B USDT from Tron to Ethereum and Avalanche
Crypto lender’s Tether loan halved
Blockchain analytics provider Nansen integrates and invests in DeFi data app APY.vision
Aurora launches $90 million developer fund to boost DeFi on NEAR Protocol
Over $1.2 billion in bitcoin reserves remains unaccounted for by Luna Foundation Guard
Blizz Finance protocol drained after Chainlink pauses LUNA oracle
Trader may have lost $9M in exit from USDT
Abracadabra enables leveraged yield farming on Stargate

https://www.fxmag.com/crypto/weekly-defi-update-week-19-09-05-2022-...