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RE: CRYPTOCURRENCY MARKET CONTROVERSIES - 10% to @Tron-Fan-Cub
What they are trying to do is eliminate centralized system completely from stable coin, the mechanism looks great, but now the centralized system had showed how powerful and rich they are by dumping UST and this affected LUNA price and we have wintness a fine and incredible project varnish within 48 hours.
That's a logical conclusion. The introduction of UST became a threat to the entire centralized stablecoins and seeing that it has lead to the birth of another algorithmic stable coin USDD, doubled the threat thereby forcing them to act fast by dumping UST which lead to over minting and dumping of Luna.
Like I said, the above assertion is logical but there's nothing certain as to what is currently going on thus making the whole thing controversial.