Commentary On 3AC, Celsius, Voyager, And Bear Market

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Dominic Williams, Founder of the Dfinity Foundation and Chief Scientist for the Internet Computer Protocol, said: On Voyager, Celsius Network, Three Arrows Capital, And LunaLuna used a design that was always going to fail. In fact, that kind of design was proposed and discussed on a newsgroup called cryptofinance back in 2014, and rejected by people and by me back then, for multiple, fairly obvious reasons. You could call it an unstable stablecoin design. Luna demonstrated yet again that it’s easy to mistake a rising token price for technical competence and substance. Q2 2022 hedge fund letter…

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