16/05/2022
Terra's Do Kwon Floats Ideas to Save UST as LUNA's Collapse Continues!
Terra (LUNA) founder Do Kwon on Wednesday finally took to Twitter again, floating ideas for how the algorithmic stablecoin terraUSD (UST) can be saved after losing its US dollar peg on Monday. (Updated at 10:51 UTC: updates throughout the entire text.)
“Before anything else, the only path forward will be to absorb the stablecoin supply that wants to exit before UST can start to repeg. There is no way around it,” Do Kwon wrote, suggesting adopting a community proposal that would increase minting capacity in an effort to “absorb the UST more quickly.”
Both terraUSD (UST) and terra (LUNA) still can't find their price bottom today.
