Are we screwed if UST goes to shit since market is closed?

Any way to get our collateral out? Any emergency release of funds available for mirror?

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Mirror docs says that the collateral ratio is based on UST value, not USD, so you won’t get liquidated beacause of the depeg. Eventually you can get out your collateral on the market open at latest if you want to. Don’t mind the UST-USD price, whether it’s going to be 0.1 USD or 0.9 USD, at Terra Station (official Terra blockchain wallet) you can convert it to Luna as if it was 1 USD regardless of the current value of the peg. You can swap the ust for luna at 3 market price at the wallet, obviously go with what gives you the most luna. Than send the Luna to a CEX, like Binance, where you could swap the luna for usdt or whatever you want. This way, you won’t lose money based on the depeg, only transaction fees/slippage and of course if the price of luna get’s lower while the transaction is pending, you’d get that haircut too. So basically chill now, let’s see if the peg get’s restored, if not, we can still cash out. :wink:

Hey mate are you sure about this? You cannot convert UST to Luna as if it was 1 USD. There is no way to avoid the loss from the depeg.

Basically that’s what is Terra blockchain all about, read this:

But also just notices, that the pools are getting empty of Luna in the last hours, so now they show higher prices :confused: I think those’ll get refilled and therefore rebalancing the LP → get the original 1USD-for 1UST pair relative to Luna, but now it’s also fucked a bit

Hey mate why don’t you try yourself on Terra Station getting 1 USD for 1 UST. It’s not possible.

Yea I said I just noticed it’s fucked now, last I checked an hour ago and it was fine then.

https://docs.terra.money/docs/develop/module-specifications/spec-market.html#terra-pool-delta

Check this, it says that the “market” swap on Terra Station automaically refills, based on x blocks…So’ll just wait, maybe the peg get’s restored, but if not, I won’t swap with these fuckin huge spreads.

thanks for the replies. i’m hoping as long as the Luna Foundation Guard has a good amount of BTC reserves, the peg will get put back…