#19 Terraform Labs CEO Do Kwon bets $11 million on LUNA’s future price
Update: 2022-03-30
Description
Terraform Labs founder Do Kwon has accepted a $11 million bet on the price of his own project Terra (LUNA) with the pseudonymous Sensei Algod. A crypto personality known as Cobie is acting as the escrow for the wagered funds.
According to the details of the bet, Sensei Algod wins if the price of LUNA is lower in one year’s time, while Kwon will be the winner if it is higher than today’s price. The price of LUNA as of the time the wager was accepted was about $88.
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Resources:
- Economic Model Terra > https://twitter.com/crypto_rudd/status/1502821601485668358
- Death spiral UST modelisation > https://twitter.com/pedroexplore1/status/1506396351311097865?s=20&t=j5iqd7j165PMQb2YfMbMcQ
- Explaining Algorithmic stablecoins : https://medium.com/dragonfly-research/a-visual-explanation-of-algorithmic-stablecoins-9a0c1f0f51a0
- Terra ecosystem overview: station.terra.money
- Do Kwon on Twitter: https://twitter.com/stablekwon?s=20&t=aYciZHNFVBEbS38o1vBgeA
- Anthony Pompliano’s take on the whole thing:https://substack.com/profile/331842-anthony-pompliano
- The twitter spaces where Do Kwon announced Terra was going to make buying Bitcoin a habit. https://terraspaces.org/2022/03/18/udiverse-x-stablekwon-making-a-bitcoin-gigachad/
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