Terra founder Do Kwon shares plan to save the UST stablecoin peg

Terra founder Do Kwon shares plan to save the UST stablecoin peg


Do Kwon, CEO of Terraform Labs, will not admit defeat. After an 18-hour wait in which his coins Terra (LUNA) and TerraUSD (UST) endured a face-ripping freefall, Do Kwon has announced his “rescue plan” for the Terra community. 

Terra is down 90% from its all-time highs, while the “stablecoin” UST is 75% below the dollar parity. But have no fear, cocky Kwon has planned “several remedial measures,” to rescue the billions wiped off the total Terraform Labs market cap.

2/ I understand the last 72 hours have been extremely tough on all of you – know that I am resolved to work with every one of you to weather this crisis, and we will build our way out of this.

Together.

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— Do Kwon (@stablekwon) May 11, 2022

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