Decrypt’s Art, Fashion, and Entertainment Hub.
2/ First, *LFG is not trying to exit its bitcoin position*.
The goal is to have this capital in the hands of a professional market maker such that:
1) Buy UST if price < peg
2) Buy BTC if price >= peg
thus significantly strengthening the liquidity around UST peg
— Do Kwon 🌕 (@stablekwon) May 9, 2022