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Anatomy of a Stablecoin’s failure: The Terra-Luna case
dc.contributor.author | Briola, Antonio | |
dc.contributor.author | Vidal-Tomás, David | |
dc.contributor.author | Wang, Yuanrong | |
dc.date.accessioned | 2023-05-23T16:04:42Z | |
dc.date.available | 2023-05-23T16:04:42Z | |
dc.date.issued | 2023 | |
dc.identifier.citation | BRIOLA, Antonio, et al. Anatomy of a Stablecoin’s failure: The Terra-Luna case. Finance Research Letters, 2023, 51: 103358. | ca_CA |
dc.identifier.issn | 1544-6123 | |
dc.identifier.issn | 1544-6131 | |
dc.identifier.uri | http://hdl.handle.net/10234/202595 | |
dc.description.abstract | We quantitatively describe the main events that led to the Terra project’s failure in May 2022. We first review, in a systematic way, news from heterogeneous social media sources; we discuss the fragility of the Terra project and its vicious dependence on the Anchor protocol. We hence identify the crash’s trigger events, analysing hourly and transaction data for Bitcoin, Luna, and TerraUSD. Finally, using state-of-the-art techniques from network science, we study the evolution of dependency structures for 61 highly capitalised cryptocurrencies during the down-market and we also highlight the absence of herding behaviour analysing cross-sectional absolute deviation of returns. | ca_CA |
dc.format.extent | 13 p. | ca_CA |
dc.format.mimetype | application/pdf | ca_CA |
dc.language.iso | eng | ca_CA |
dc.publisher | Elsevier | ca_CA |
dc.relation.isPartOf | Finance Research Letters, 2023, 51: 103358. | ca_CA |
dc.rights | © 2022 Elsevier Inc. All rights reserved | ca_CA |
dc.rights.uri | http://rightsstatements.org/vocab/InC/1.0/ | ca_CA |
dc.subject | stablecoin | ca_CA |
dc.subject | cryptocurrency | ca_CA |
dc.subject | LUNA | ca_CA |
dc.subject | UST | ca_CA |
dc.subject | network science | ca_CA |
dc.subject | herding | ca_CA |
dc.title | Anatomy of a Stablecoin’s failure: The Terra-Luna case | ca_CA |
dc.type | info:eu-repo/semantics/article | ca_CA |
dc.subject.jel | G10 | |
dc.subject.jel | G11 | |
dc.subject.jel | G40 | |
dc.identifier.doi | https://doi.org/10.1016/j.frl.2022.103358 | |
dc.rights.accessRights | info:eu-repo/semantics/restrictedAccess | ca_CA |
dc.type.version | info:eu-repo/semantics/publishedVersion | ca_CA |
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