[px43]

It was supposed to be quicker, and automatic, to prevent the collapse, but it's a relatively new system and still under manual control. In theory some set of humans have been tasked with slowly buying more and more UST to build up confidence, and restore the peg. This can't really happen because LUNA is worth basically zero now, but who knows.

[djantje]

Ah, yes, this part I can understand: to late with support and then the UST holders started selling, taking their loss, and in the proces devaluating UST

But the backing of UST(or Luna?) should be visible in soms large/or a lot of transaction in a small time window somewhere, if they started buying/supporting it with $3B, I would think