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Do Kwon πŸŒ• Profile picture
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18h β€’ 1 tweets β€’ 1 min read
@mentions@WestieCapital What if most of that the airdrop bucket went to people that held ust at both snapshots? Or the average of multiple snapshots where earlier snapshots are more heavily weighted?

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More from @stablekwon

Do Kwon πŸŒ• Profile picture
May 16
1/ Terra is more than $UST
2/ It has been inspiring to partake in the dynamic discourse regarding the best next steps for Terra. Taking feedback from the community and thoughtful proposals, I would like to suggest the following for the path forward.

agora.terra.money/t/terra-ecosys…

A thread on our reasoning:
3/ Currently, these key precepts underpin most schools of thought:
- The #LUNAtic community is unparalleled in its passion
- The builder talent pool is broader and deeper on Terra than most ecosystems
- Terra’s blockchain is incredibly robust, as attested to by recent events
Read 12 tweets
Do Kwon πŸŒ• Profile picture
May 13
1/ I’ve spent the last few days on the phone calling Terra community members – builders, community members, employees, friends and family, that have been devastated by UST depegging.

I am heartbroken about the pain my invention has brought on all of you.
2/ I still believe that decentralized economies deserve decentralized money – but it is clear that $UST in its current form will not be that money.
3/ Neither I nor any institutions that I am affiliated with profited in any way from this incident. I sold no luna nor ust during the crisis.
Read 6 tweets
Do Kwon πŸŒ• Profile picture
May 11
1/ Dear Terra Community:
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.
3/ First, if you don’t understand how Terra’s peg stabilization mechanism works, here is a good overview:

Read 14 tweets
Do Kwon πŸŒ• Profile picture
May 9
1/ The LFG Council just voted to deploy 1.5B in capital (0.75B in BTC, 0.75B in UST) to allay market concerns around UST. Some more context on why and how:
2/ First, *LFG is not trying to exit its bitcoin position*.

The goal is to have this capital in the hands of a professional market maker such that:

1) Buy UST if price < peg
2) Buy BTC if price >= peg

thus significantly strengthening the liquidity around UST peg
3/ While buys and sells of UST are not meaningfully directional now, we felt it was valuable to have capital ready to be deployed in the current market.

As markets recover, we plan to have the loan redeemed to us in BTC, increasing the size of our total reserves.
Read 9 tweets
Do Kwon πŸŒ• Profile picture
Apr 25
1/ Expedition is a gamified user activation platform disguised as a pokemon go clone on @terra_money
2/ Across web3 teams struggle with intelligent allocation of user incentives to maximize acquisition, engagement and retention- this is because onchain data is (for now) limited in verifying user actions
3/ With expeditions, imagine an AR game where users can perform certain actions in meatspace to win nfts like collecting pokemon

And now imagine this becomes an open platform for any project or nft collection to incentivise targeted user behavior
Read 5 tweets
Do Kwon πŸŒ• Profile picture
Apr 9
1/ The only bankrun that happens during bear markets is on my time

The cost to saying made up clickbait is close to none:

1. Likely stablekwon won't respond to it
2. Maybe im right
3. Even if he responds and I'm wrong, I get more engagment

2/

Luna does get burned 1:1 with UST minted - all you need to do is to try to do it yourself

Go to the "swap" section of Terra station, mint 100 ust, and check out supply changes on the dashboard section for Luna

But of course he didn't try it
3/

Ignorant noise
Read 8 tweets

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