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Thread 1: The Puzzle of “Bad” Validators
1/ Why do some shady Terra Classic validators keep getting delegations? It’s tied to staking, governance, and sneaky token creation. Let’s unpack it!
2/ When you stake LUNC, you and the validator earn LUNC and USTC rewards. Simple, right? But some validators mint their own coins on the LUNC chain. Here’s where it gets tricky.
3/ Buying these validator-issued coins means trading LUNC (which has governance power) for tokens with no voting rights. These coins are often speculative, prone to pump-and-dump. Not a great deal! #LUNC #TerraClassic #USTC
1/ Why do some shady Terra Classic validators keep getting delegations? It’s tied to staking, governance, and sneaky token creation. Let’s unpack it!
2/ When you stake LUNC, you and the validator earn LUNC and USTC rewards. Simple, right? But some validators mint their own coins on the LUNC chain. Here’s where it gets tricky.
3/ Buying these validator-issued coins means trading LUNC (which has governance power) for tokens with no voting rights. These coins are often speculative, prone to pump-and-dump. Not a great deal! #LUNC #TerraClassic #USTC