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Terra's Do Kwon Posts Mysterious Tweet, Discusses Difficult Times

Thu, 11/03/2022 - 14:46
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Tomiwabold Olajide
Terra ecosystem collapsed in May following UST depeg
Terra's Do Kwon Posts Mysterious Tweet, Discusses Difficult Times
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Terra Founder Do Kwon has commented on LUNA's Expedition proposal with a mysterious tweet. The tweet had GIF images of a feather, a handshake and a train in motion, but what the Terra founder meant in the tweet remains unclear.

As reported by U.Today, Terra Expedition is a new proposal outlining an ecosystem expansion program and, as described by the team, it will be a four-year program with three primary objectives: incentivizing developers to build on Terra, deepening liquidity on Terra and onboarding users to Terra.

This program will be funded with 9.5% of the total LUNA supply that was earmarked at the launch of the new Terra chain.

On Terra's research forum, Do Kwon made a post contributing to the Terra Expedition discussion, urging the community to consider better alternative, or at the very least do nothing. "Hi - Do here. I believe the expedition proposal is a subpar spend of the community pool, and I urge the community to consider better alternatives (including doing nothing)."

Terra: 4,400 Crypto Investors on Massive Hunt for Do Kwon

In a lengthy post, he outlined a few reasons, one of which is trust, as developers might not want to build on Terra unless there is a compelling reason to. He posits several ways he believes the community pool can be well spent and gives reasons why.

Do Kwon speaks on difficult times

In addition to being sued in class-action lawsuits in U.S. courts, he is wanted by South Korean authorities, Interpol has issued a red alert for his arrest and another $57 million lawsuit from 350 investors in Singapore shows that Do Kwon has a lot on his plate.

The embattled Terra founder, recalling a December 2021 tweet on working on hard problems, tweeted, "Strangely, these last few weeks have been one of the most creative periods of my life."

The Terra ecosystem collapsed in May following the UST depeg, resulting in losses of around $60 billion.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.