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

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.

how Terra works and why Do thinks UST will soon be the third-largest stablecoin
why Do and LFG decided to back UST with bitcoin
why Do thinks LUNA’s price will continue to appreciate despite UST’s new dependence on bitcoin
how UST might perform if the price of a bitcoin were to crash
why diversifying UST with different types of collateral could help Terra politically
how LFG plans to use bridges, smart contracts, and an AMM reserve pool to secure its bitcoin
why Do thinks Terra is now a Layer 2 project for Bitcoin
who is deciding to purchase bitcoin and who determines what other assets to purchase as collateral for UST
how a bitcoin reserve pool would help UST not de-peg from the dollar
whether Do thinks Anchor’s 19%+ yield is sustainable and why Anchor is moving to other chains

Part 2: Do, the self-described “toymaker” of DeFi.

why Do is fascinated with creating a fungible labor market
how developer working hours could become a token traded on an AMM and used to take out loans
why Do thinks developer salaries in crypto should be cyclical
how on-chain identity and history will be similar to credit scores
why Do is a personal fan of Thorchain – but is reticent to use it as a bridge for LFG
why Do is interested in Prism Protocol
what Do thinks the impact of a pro-crypto president will have on South Korea

Unchained announcement

https://lawandcrime.com/uncahined-podcast/lawcrime-partners-with-top-crypto-journalist-laura-shin-to-launch-podcast-on-bitcoins-bonnie-and-clyde/

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