Delphi has delivered its verdict on the de-pegging of Terra’s UST and its conclusions are damning, comparing the ecosystem's nose dive to the 2013 collapse of the notorious Mt. Gox exchange.
Projects associated with Terra suffer losses of more than 80% as contagion spreads. Meanwhile, Maker (DAI) gets a boost as traders look for other decentralized stablecoin options.
It only took Terra one year and 22 protocols to become the second-largest DeFi blockchain. How was it achieved, and for how long will it remain on top?