A South Korean cryptocurrency developer, Kwon Do-Hyung (Hangul:), also known as Do Kwon, is the CEO of Terraform Labs in Singapore. Unlicensed Terraform Labs is responsible for the Terra blockchain, which contains the TerraUSD (UST) stable coin and Terra tokens (LUNA). TerraUSD and Luna’s market capitalization was wiped out in a week in May 2022 when they both fell.
Kwon co-founded Terra with the goal of developing a more efficient payment system using blockchain technology. At the time of its inception in January 2018, the company’s self-named stable coin garnered 40 million users.
Terra has secured $32 million from crypto-giants like Binance, Arrington XRP, and Polychain Capital with the goal of developing a blockchain-based payment system. Terra has also assembled an alliance of business partners, including Korean ticketing giant Ticketmaster and travel operator Yanolja.
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Do Kwon’s Early Life
On September 6, 1991, Do Kwon was born in Seoul, South Korea. He obtained a bachelor’s degree in computer science from Stanford University in 2015. Kwon started his career as an engineer for Apple and afterward worked for Microsoft for a brief time. Do Kwon was recognized on Forbes’ “30 Under 30” list in 2019. Do Kwon is Korean martial art.
This South Korean cryptocurrency entrepreneur is primarily renowned for co-founding Terraform Labs in January 2018 and serving as its CEO at the time.
In 2016, Kwon founded his own telecoms startup, Anafi. Anafi is a mesh network-based peer-to-peer communication solution. He was the company’s CEO until 2017.
1/ I’ve spent the last few days on the phone calling Terra community members – builders, community members, employees, friends and family, that have been devastated by UST depegging.
I am heartbroken about the pain my invention has brought on all of you.
— Do Kwon 🌕 (@stablekwon) May 13, 2022
Do Kwon and Daniel Shin find Terraform Labs, a blockchain technology startup, in 2018? The company’s main goal is to establish a decentralized cryptocurrency with predictable prices. Terra Proof-of-Stake (PoS) is a public blockchain established by Terraform Labs based on the Cosmos Software Development Kit (SDK).
Do Kwon’s Personal Life
Terra’s co-founder and CEO hail from South Korea. When it comes to his parents, we don’t know who they are. There is no information on his personal life, including whether or not he is married. He refuses to discuss his connection with his girlfriend. If you’re interested in learning more about his life, please continue reading this post.
His parents’ names have not been released. It’s unclear whether he’s married or not. As far as I know, he’s never talked about his relationship. More information about Do Kwon Terra’s family, spouse, and private life will be available on this page very soon. Born in Seoul, South Korea, in 1993, Do Kwon is an actor. Terra’s co-founder and CEO hail from South Korea. He co-founded Terra to employ blockchain technology to build a more efficient payment method.
Do Kwon’s Net Worth
Do Kwon is AD Terra’s co-founder and CEO. As of 2022, his net worth is estimated to be $10 million. Anyfi, a telecommunications start-up, was launched by Kwon in 2016. Using mesh networks, Anafi allows users to communicate directly with each other. From 2007 to 2017, he served as CEO of the corporation.
Do Kwon and Daniel Shin created Terraform Labs, a blockchain technology company, in 2018. Stable pricing for a decentralized coin is the group’s primary goal. It is Terraform Labs’ Terra Proof-of-Stake (PoS) that is built on the Cosmos Software Development Kit (SDK). The LUNA stable coin is also produced by the business. The Terra Blockchain uses this coin as a native asset.
Do Kwon’s Cryptocurrency Career
The Anify peer-to-peer communications company is Kwon in 2016? Before 2017, he served as CEO of the company. Afterward, he became involved in the crypto market. In 2018, he and Daniel Shin created Terraform Labs, a startup company.
The company’s goal is to develop a decentralized cryptocurrency with a stable price. The Terra PoS and UST algorithmic stable currency were created by Kwon and co-founder Daniel Shin as a result. A stablecoin called LUNA is also created by the business, which is based on the Terra network. As a result of this, the CHAI platform was established at the University of Texas at Austin (UST).
UST Status
I think it’s safe to say they’ve had an enormous impact on it. Both currencies, however, are no longer able to fulfill their original function as stable currencies, as their prices have dropped.
In recent days, the UST has been debugged, which implies that it is no longer equal to the US dollar in value. It dipped to 40 cents at one point. Due to its connection to UST, LUNA has also incurred enormous losses, falling to 99 percent in just two weeks.
These price swings, which have harmed Bitcoin and the broader market, are causing alarm among many crypto investors. For a lot of folks, this means losing all they’ve worked so hard for. Some exchanges have already suspended trade on the Terra blockchain because of its imminent collapse.
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