Category: Do Kwon

Buterin: Terra should protect the smallholders, not the whales

May 16, 2022

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Ethereum co-founder Vitalik Buterin thinks that the beleaguered Terra project should prioritize small hodlers as part of any proposed reimbursement plan. As widely reported, the Terra eco-system suffered a death spiral around May 9 which resulted in Terra (LUNA) tanking 100% and the TerraUSD (UST) stablecoin losing its United States dollar peg, priced at $0.16 […]

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Major validator calls for ‘completely new chain’ to replace Terra

May 16, 2022

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The operator of a major validator node on Terra is displeased with how events unfolded leading to the cessation of the chain and hopes a whole new blockchain will be created to replace it. 4985 Total views 37 Total shares As the dust settles from the Terra ecosystem crash and the community decides what the […]

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Terra peg mechanism in doubt as UST crashes to $0.67

May 10, 2022

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The third-largest stablecoin by market cap, TerraUSD (UST), appears to be in a catastrophic tailspin which has seen it de-peg from the dollar and drop to as low as $0.67 on Tuesday. As its price has fallen, so has its market capitalization along with that of Terra (LUNA), which backs the majority of the value […]

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LFG to deploy $1.5 billion to bolster UST peg and build BTC reserves

May 9, 2022

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LFG outlined that it will first loan out $750 million worth of BTC to over-the-counter trading firms to manage the capital and “help protect” UST. 632 Total views 24 Total shares Amid the sharp pullback across Bitcoin (BTC) and the wider crypto market this week, the Luna Foundation Guard (LFG) is set to deploy $1.5 […]

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Terra’s UST flips BUSD to become third-largest stablecoin

April 18, 2022

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UST market cap has surged to flip BUSD, however, its trading volumes are still only around one-fifth worth of the Binance digital dollar. 141 Total views 6 Total shares The Terra (LUNA) blockchain’s algorithmic stablecoin Terra USD (UST) has flipped Binance USD (BUSD) to become the third-largest stablecoin on the market. UST is a USD-pegged […]

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Terra founder reveals what will happen to UST if Bitcoin price crashes

April 1, 2022

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Do kwon told Laura Shin on her Unchained podcast that he is betting on the long term growth of BTC price and isn’t worried about short term volatility. 242 Total views 13 Total shares Terraform Labs CEO Do Kwon has conceded that a crash in the price of Bitcoin would be “negative” for the stability […]

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