With significant demand from Anchor protocol, UST continues to suffer supply issues. Just in the last hour, net buys of UST from Kucoin, curve and uniswap summed to 3M.
Swap spreads for UST minting is highly skewed, with 6-7% being the average penalty. We will be introducing further governance proposals to make this more efficient soon.
TFL will be drawing down an additional 20M luna from the stability reserve to mint more UST to serve inbound demand.
TXID: Terra Finder
Cumulative withdrawals: 50M