The founder of Terraform Labs shared his opinion on the current market situation and lessons that we should take from last month’s collapse of the Terra ecosystem.
Do Kwon is the founder of Terraform Labs. Since last month he is under huge legal hurdles & public pressure because of the collapse of Terra stablecoin & its native token Luna. Due to the collapse of the Terra ecosystem, a huge number of people lost money and also impacted the whole crypto market negatively.
On 18 June, the crypto industry saw huge corrections in terms of the price of the majority of the Crypto assets. In particular, the Bitcoin price plunged to $18,000. At the time of writing this article, the price of BTC is $18,109.
By taking reference to this correction in the price of Bitcoin and future more correction because of bearish sentiment, Terra founder took to Twitter and said:
-----Cryptonews AD----->>>
Sign up for a Bybit account and claim exclusive rewards from the Bybit referral program! Plus, claim up to 6,045 USDT bonus at . https://www.bybit.com/invite?ref=PAR8BE
<<<-----Cryptonews AD-----
“Be the change you want to see. The last month for crypto has lessons that will power the rise of the next-gen of builders to great heights.”
Terra founder talked about the advantages of the decentralized finance (DeFi) sector and associated volatility as the cost of achieving authority over their lives and that these convictions should not be rendered void by the liquidations in the crypto market.
Kwon further added:
“Decentralized finance and decentralized monies protest against state-sponsored violence vs financial sovereignty. Volatility is a price believer pay to achieve that sovereignty. Liquidations should not invalidate those beliefs.”
As a suggestion, Kwon said that the Defi industry needed to create an ecosystem that would always remain stronger and more resilient to those attacks. Kwon also asserted that we have to be focused on one way, whether we want to fight for a sovereign future or higher numbers.
Through the statement that we should focus on “systems that are stronger and more resilient to those attacks”, Terra founder indirectly hinted to create a better business model for Crypto projects. And also indirectly he admitted that the algorithm concept to maintain the value of UST was a Bad Idea, which collapsed the whole Terra ecosystem.
Read also: I was 20 years old when bitcoin was released, Says Cardano founder
https://bitcoinik.com/terra-collapse-has-lessons-that-will-power-the-rise-of-the-next-gen-of-builders-to-great-heights-terra-founder/feed/
https://bitcoinik.com/terra-collapse-has-lessons-that-will-power-the-rise-of-the-next-gen-of-builders-to-great-heights-terra-founder/feed/
Buy bitcoin and other cryptocurrencies on crypto exchanges: Binance Coinbase Kraken Bitfinex
EXPLOSIVE LTD is an investment company specializing in financial market trading. Our preferred market is commodities: EXPLOSIVE LTD have developed accurate expertise in trading gold, silver, crude oil, natural gas.
🔥 Explosive-X
Signup link: https://explosive-x.io/?ref=devplus
Started: 01/06/2022
💰 Investment Plans: 4% daily for 25 days (principal return end of the cycle)
Cancel Deposit after 24 hours with a 15% fee
Withdrawal: Manual (Max 12 hours)
📥 Minimal deposit: $10 – Maximum deposit: $50.000
📥 Minimal withdraw: PM $1 , BTC $10 ,LTC $5 ,ETH $20
XRP $5 ,DOGE $5 ,USDT ERC20 $20 ,TRX $5 ,XLM $5
USDT (TRC20 BEP20) $5 , USDT TRC20 5$ , BNB $5 ,BCH $5
🤝 Referral program: 6% – 2%
Career Bonus:
$1000 Direct active referrals: $40 Bonus
$2500 Direct active referrals: $100 Bonus
$5000 Direct active referrals: $250 Bonus
$15,000 Direct active referrals: $600 Bonus
$50000 Direct active referrals: $2500 Bonus
Sign Up : https://explosive-x.io/?ref=devplus
—————————————————————————————————————-
BN Trust
📣24 hours trading, every two hours, you can earn more than 5% profit per day
Invest $100 (30 days) and get $432
Invest $300 (30 days) and get $1297
Invest $500 (30 days) and get $2161
Invest $1000 (30 days), get $4320
Invest $5,000 (30 days) and get $21,610
Invest $10,000 (30 days) and get $43,200
💵Minimum deposit amount is $20.
The minimum withdrawal amount is $10.
Cash out anytime!
The higher the capital, the more you earn
🖇Operation registration link https://www.bn-trust.com/#/register?sharecode=kBrco2
Risk Reminder:
Trading foreign exchange and/or contracts for differences on margin carries a high level of risk and may not be suitable for all investors.
The possibility exists that you could sustain a loss in excess of your deposited funds.
Before deciding to trade the products reviewed by Cryptonews24.eu, you should carefully consider your objectives, financial situation, needs and level of experience.
You should be aware of all the risks associated with trading on margin.
Cryptonews24.eu provides general news and advice that does not consider your objectives, financial situation or needs.
The content of this website must not be construed as personal advice.
Cryptonews24.eu recommends you seek advice from a separate financial advisor.
Nothing on this website should be considered financial advice.
This website is for informational purposes only and you should not rely on anything that is printed or said on this website to make any financial decisions.
