“DAI will die by my hand” are stablekwon’s famous last words. But how did the meteoric rise of LUNA and $UST crash so quickly? It started with a launch in 2018.
CoinDesk followed and reported on the rise and the ultimate demise of the Terra ecosystem. What follows is a detailed timeline of the Terra blockchain's history, including Do Kwon's vision to create a price-stable crypto payment system to take on the biggest e-commerce platforms, Terra becoming one of the biggest red-hot crypto projects, Do Kwon's growing antics on social media and how it all crashed down in the end, evaporating the life savings of desperate everyday investors.
April 20: Cyrus Younessi, head of risk at MakerDAO and a former research analyst at Scaler, tells Scaler why he believes Terra/LUNA would not work, describing a scenario that later unfolded in mid-2022. (
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