Do Kwon is the CEO of Terraform Labs and a director at Luna Foundation Guard. On Unchained, he explains why LFG is spearheading a plan to partially back Terra’s $15 billion stablecoin UST with Bitcoin. He also dives into another project idea that would transform developer salaries into financial assets that, as far as I can tell, he has not yet spoken about publicly.   Part 1: Everything you need to know about Terra, UST, and BTC. <ul> <li style="font-weight: 400;" aria-level="1">how Terra works and why Do thinks UST will soon be the third-largest stablecoin</li> <li style="font-weight: 400;" aria-level="1">why Do and LFG decided to back UST with bitcoin</li> <li style="font-weight: 400;" aria-level="1">why Do thinks LUNA’s price will continue to appreciate despite UST’s new dependence on bitcoin</li> <li style="font-weight: 400;" aria-level="1">how UST might perform if the price of a bitcoin were to crash</li> <li style="font-weight: 400;" aria-level="1">why diversifying UST with different types of collateral could help Terra politically</li> <li style="font-weight: 400;" aria-level="1">how LFG plans to use bridges, smart contracts, and an AMM reserve pool to secure its bitcoin</li> <li style="font-weight: 400;" aria-level="1">why Do thinks Terra is now a Layer 2 project for Bitcoin</li> <li style="font-weight: 400;" aria-level="1">who is deciding to purchase bitcoin and who determines what other assets to purchase as collateral for UST</li> <li style="font-weight: 400;" aria-level="1">how a bitcoin reserve pool would help UST not de-peg from the dollar</li> <li style="font-weight: 400;" aria-level="1">whether Do thinks Anchor’s 19%+ yield is sustainable and why Anchor is moving to other chains</li> </ul>   Part 2: Do, the self-described “toymaker” of DeFi. <ul> <li style="font-weight: 400;" aria-level="1">why Do is fascinated with creating a fungible labor market</li> <li style="font-weight: 400;" aria-level="1">how developer working hours could become a token traded on an AMM and used to take out loans</li> <li style="font-weight: 400;" aria-level="1">why Do thinks developer salaries in crypto should be cyclical</li> <li style="font-weight: 400;" aria-level="1">how on-chain identity and history will be similar to credit scores</li> <li style="font-weight: 400;" aria-level="1">why Do is a personal fan of Thorchain – but is reticent to use it as a bridge for LFG</li> <li style="font-weight: 400;" aria-level="1">why Do is interested in Prism Protocol</li> <li style="font-weight: 400;" aria-level="1">what Do thinks the impact of a pro-crypto president will have on South Korea</li> </ul>   Book events Keep up on all the latest events here!  <a href= "https://www.laurashin.com/book/#tour-dates"> https://www.laurashin.com/book/#tour-dates</a>   Thank you to our sponsors! Crypto.com: <a href= "https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021"> https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021</a>            Beefy Finance: <a href= "https://beefy.finance/">https://beefy.finance</a>     Cross River Bank: <a href="https://crossriver.com/crypto">https://crossriver.com/crypto</a>   Upcoming Book Events Wednesday, March 30: I’ll be speaking (remotely) with Six Senses about The Cryptopians at 2 pm ET. Be sure to save your spot soon – space is limited!   Tuesday, April 5: I will be doing a reading and signing hosted by the City of Miami Beach and Future Perfect Ventures at Sky Yard from 6-8 pm. Jalak Jobanputra, CEO of Future Perfect Ventures will be interviewing me. You need to RSVP by April 1 to dianafontani@miamibeachfl.gov.     Saturday, April 9: I will be on a panel at the Annapolis Book Festival at 11 am.    Tuesday, April 12: I will be at StartupGrind’s global event in Redwood City, which is focused this year on Web3 (time → TBD).    May 4-7: I will be in conversation with author Jimmy Soni at the PBS Seattle Crosscut Festival, which takes place from May 4-7.    May 23-25: I will be at the Oslo Freedom Forum which takes place from May 23 to 25. Details on these events are TBD.    Episode Links   Do Kwon <ul> <li style="font-weight: 400;" aria-level="1"><a href= "https://twitter.com/stablekwon">https://twitter.com/stablekwon</a></li> <li style="font-weight: 400;" aria-level="1">Previous Unchained appearance: <a href= "https://www.youtube.com/watch?v=683fXfedOZY">https://www.youtube.com/watch?v=683fXfedOZY</a> </li> </ul>   Terra <ul> <li style="font-weight: 400;" aria-level="1">Twitter: <a href= "https://twitter.com/terra_money">https://twitter.com/terra_money</a> </li> <li style="font-weight: 400;" aria-level="1">Luna Foundation Guard: <a href= "https://lfg.org/team/">https://lfg.org/team/</a></li> </ul>   LFG Purchases <ul> <li style="font-weight: 400;" aria-level="1">Pomp – the $10B Bitcoin Bet on Stablecoins</li> <li style="list-style: none; display: inline"> <ul> <li style="font-weight: 400;" aria-level="2"><a href= "https://pomp.substack.com/p/the-10-billion-bitcoin-bet-on-stablecoins?s=w"> https://pomp.substack.com/p/the-10-billion-bitcoin-bet-on-stablecoins?s=w</a></li> </ul> </li> <li style="font-weight: 400;" aria-level="1">3/10 BTC purchase</li> <li style="list-style: none; display: inline"> <ul> <li style="font-weight: 400;" aria-level="2"><a href= "https://twitter.com/LFG_org/status/1503680315969060864"> https://twitter.com/LFG_org/status/1503680315969060864</a> </li> </ul> </li> <li style="font-weight: 400;" aria-level="1">$1 BTC billion purchase</li> <li style="list-style: none; display: inline"> <ul> <li style="font-weight: 400;" aria-level="2"><a href= "https://twitter.com/terra_money/status/1496162889085902856"> https://twitter.com/terra_money/status/1496162889085902856</a> </li> </ul> </li> <li style="font-weight: 400;" aria-level="1">TFL x LFG relationship</li> <li style="list-style: none; display: inline"> <ul> <li style="font-weight: 400;" aria-level="2"><a href= "https://twitter.com/stablekwon/status/1502225674840555523"> https://twitter.com/stablekwon/status/1502225674840555523</a> </li> </ul> </li> </ul>   Terraform Labs proposal to make Terra inter-chain <ul> <li style="font-weight: 400;" aria-level="1"><a href= "https://agora.terra.money/t/ust-goes-interchain-reasonable-strats-part-five/5024"> https://agora.terra.money/t/ust-goes-interchain-reasonable-strats-part-five/5024</a> </li> <li style="font-weight: 400;" aria-level="1">Anchor Going Cross Chain to Avalanche</li> </ul> <ul> <li style="font-weight: 400;" aria-level="1"><a href= "https://twitter.com/CryptoHarry_/status/1504309092411920387"> https://twitter.com/CryptoHarry_/status/1504309092411920387</a> </li> </ul> Jump’s BTC reserve proposal <ul> <li style="font-weight: 400;" aria-level="1"><a href= "https://twitter.com/terra_money/status/1506736478449127425"> https://twitter.com/terra_money/status/1506736478449127425</a> </li> </ul>   Recent worries about Anchor APY being sustainable  <ul> <li style="font-weight: 400;" aria-level="1">Do said Anchor yield shouldn't be sustainable (marketing scheme)</li> <li style="list-style: none; display: inline"> <ul> <li style="font-weight: 400;" aria-level="2"><a href= "https://twitter.com/stablekwon/status/1503154137420079107"> https://twitter.com/stablekwon/status/1503154137420079107</a> </li> </ul> </li> </ul> <ul> <li style="font-weight: 400;" aria-level="1">Arca + Polychain proposal: <a href= "https://twitter.com/jdorman81/status/1502024302526304262"> https://twitter.com/jdorman81/status/1502024302526304262</a> </li> </ul>   South Korea’s new President <ul> <li style="font-weight: 400;" aria-level="1"><a href= "https://asia.nikkei.com/Spotlight/Cryptocurrencies/South-Korea-s-incoming-president-vows-big-cryptocurrency-push"> https://asia.nikkei.com/Spotlight/Cryptocurrencies/South-Korea-s-incoming-president-vows-big-cryptocurrency-push</a> </li> </ul>   SEC subpoena <ul> <li style="font-weight: 400;" aria-level="1"><a href= "https://www.coindesk.com/policy/2021/12/10/most-influential-2021-do-kwon/"> https://www.coindesk.com/policy/2021/12/10/most-influential-2021-do-kwon/</a> </li> </ul>

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Do Kwon Is Backing UST With Bitcoin – And Here’s What Else He Is Building - Ep.335

Unchained