C.o.R.E.3 Concludes Amid UST Drama


Exciting day for Pilots with C.o.R.E.3 coming to an end against the backdrop of a brutal fight for UST stability and red candles across the market.

Congratulations to Terra, Dodo, Redacted, Silo, and BitDAO for securing a Reactor and making a giant leap forward towards sustainable liquidity for their respective tokens!

As the event kicked off, ApeCoin immediately launched into first place, but was unable to hang on among the cohort of DeFi projects. BitDAO was a surprising entrant, with over 6 million votes seemingly from a single source placing them firmly in the running.

LUNA was the first to offer up a bribe on Hidden Hand, and commanded a huge lead for most of the event. Redacted, the DAO that holds the most TOKE, used their voting power to enter the top 5 and had no problem maintaining their position.

The final moments were a free for all, with Dodo and Rook attempting to sway mercenary voters with last-minute bribes. This launched Dodo into second place, but Rook's bribes cut it too close and were unable to attract enough votes with so little time to spare, leaving them two million votes short of the top 5.

screenshot from the Tokemak app showing the top five winners in the C.o.R.E. event

While C.o.R.E.3's crescendo has marked the end of the fight for most of these contenders, Luna must continue their struggle to avoid a depegging of UST and potential LUNA unwind event. While we expect the Luna Foundation Guard to prevail in maintaining the peg, Terra skeptics are eager to see the total collapse of this ecosystem.

Will Luna's difficulties result in them conceding their place on the podium, allowing Rook to slide into 5th? Perhaps! Now that C.o.R.E.3 has concluded, all eyes are glued to the 1-minute UST chart.

Binance 1-minute UST-USDT chart

Over the coming weeks, the Tokemak team will be reaching out to the winners of this event in order to secure reserves and begin the Reactor ignition process.

C.o.R.E.4 is expected to take place in the next two months, along with with new revenue-generating tokenomics.

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