Burn the House Down

    Q8. Find the week that the largest volume of OSMO burning happened. What caused this event? Show some of the events that this burning had on the Osmosis ecosystem. Hint: Look at the msg_types of transactions to determine when Osmosis is being burnt.

    My dashboard answers:

    • The largest volume of OSMO burning happened.
    • What caused this event?
    • Show some of the events that this burning had on the Osmosis ecosystem.

    Based on the hint: I look at the msg_types of transactions to determine when Osmosis is being burnt.

    Loading...

    Lable in the table ‘osmosis.core.dim_labels’ mentions the name of the entity that controls the address.

    Loading...
    Loading...

    As can be seen from the results, LUNA Classic has the highest amount burned (35.4B). Next are Chihuahua (834.4M) and Cerberus (812.4M). The collapse of LUNA-UST triggered the huge volume of burning amount in various token. TerraUSD was a stablecoin, which meant that its value was supposed to remain constant at $1. However, it fell below $1 and continued to fall, while Luna tokens, which had once been valued more than $100, plummeted to less than a penny, effectively wiping out a combined market value of more than $60 billion. There is a domino effect. After Terra, Luna crashes, regulators count cost of crypto. Spectacular collapse of stablecoin puts focus on regulatory frameworks in South Korea and other countries. South Korean authorities launched an “emergency investigation” into the case about LUNA.