Remember the huge shock in the crypto market in 2022. The collapse of the Luna ecosystem happened so quickly, with prices plunging from over a hundred to nearly zero. Following that, its pegged stablecoin UST also completely lost its peg during the same period.

At that time, I staked UST on a major lending platform with an eye-catching annualized return—20%. It seemed like a windfall was coming, but in the end, the pie fell from the sky. Fortunately, I reacted quickly and withdrew around the 0.95 price level, narrowly avoiding the worst of the decline.

Later, the ecosystem rebooted, launching a new Luna token. The old Luna was renamed Lunc, and the old UST became Ustc. After this series of events, the risks of stablecoins, the fragility of single ecosystems, and the importance of quick stop-loss measures truly sank into many people's minds. The experience from that period was enough to make future investment decisions more cautious.