Crypto Startup Attempts to Recover From Luna Disaster By CoinEdition

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Crypto Startup Attempts to Recover From Luna Disaster

Published May 21, 2022 05:19AM ET Updated May 21, 2022 05:30AM ET

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Crypto Startup Attempts to Recover From Luna Disaster

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Stader Labs was one of the firms affected by the LUNA and UST crash.
The ecosystem may be restored ff Terraform Labs can keep its developers.
Terra’s implosion underscores the ability of crypto sectors to quickly pivot after a big shakeout.

Stader Labs, a Bengaluru-based company that develops software for cryptocurrency trading and analysis, was one of the many crypto firms caught up in the Terra (LUNA) and UST crises.

Stader has created a profitable business by providing a platform for staking, in which token holders allow their tokens to be used to help verify transactions on a blockchain in exchange for a return on their investment. Almost all of that revenue came before the fall of Luna, which, like TerraUSD, ran on the Terra blockchain and hit an all-time high in early April.

When TerraUSD (UST) fell from its 1-to-1 peg to the US dollar this month, it dragged Luna down, affecting Stader’s company. According to data from industry analyst DeFi Llama, the total value bound on its ...

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Comments (1)

Phinyo Kanta May 21, 2022 8:21AM ET

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Luna is Jumping!! Be careful if you're actually a runner

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Crypto Startup Attempts to Recover From Luna Disaster

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