RE: Anchor Protocol Glitch Liquidates Millions as Anchor Community REJECTS repaying funds
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Great work for being on top of this story, I actually had no idea that this happened!
But I'm really not sure what the right outcome here is...
Do we really want the protocol or Terra themselves to bail them out?
What would happen here if the same thing happened around HBD?
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It is a challenging position to be in and I'm not sure but if this is the second time then the business model of Anchor needs to be addressed and perhaps APY reduced.
In regards to the glitch, you'd anticipate that the protocol itself would have enough funds to safe guard and pay back the lost assets or somehow reclaim them.
Hmm, yeah I still just don't know which way I want to lean!
Well, this is going to have big repercussions for UST's position as being able to offer the highest interest for staking stables.
Then have flow on effects for us here on Hive, still being able to offer a glitch-free-12% on an algorithmic stablecoin haha.
This is a great story man.
Definitely hope you stay on top of this one and provide updates!
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Thank you, I reached out to Anchor for a response but they haven't gotten back to me I'm glad you enjoyed the story. I'll be sure to check back on future updates