អ្នកអភិវឌ្ឍន៍ Terra Anchor និយាយថា Do Kwon បង្កើនការប្រាក់ពី 3.6% ទៅ 20% ក្នុងមួយសប្តាហ៍មុនពេលចាប់ផ្តើម 

More revelations have continued to emerge about what led to the collapse of TerraUSD (UST), the stable coin linked to TerraForm Labs. 

នេះបើយោងតាមការថ្មីមួយ របាយ​ការណ៍ published by Korean media outlet JBTC and shared by Wu Blockchain, Terra’s Anchor designer disclosed that the original interest rate for the company’s Anchor program was initially designed to pay a lower amount to investors compared to what was launched.

According to JTBC, Anchor’s designers said that the original interest rate was designed to be 3.6%, but the proposal was not accepted by Do Kwon, and Anchor’s interest rate was raised to 20% a week before the release. https://t.co/THhM51shhM

- វ៉ូប្លូឈិន (@WuBlockchain) ខែមិថុនា 8, 2022

However, Do Kwon, the CEO of TerraForm Labs, decided to change everything a week before the initiative launched, as part of an effort to lure more investors to Terra.

Initial Safety Measure

Terra’s core designer referred to as Mr. B in the report, noted that in order to keep UST pegged to the dollar, he and other developers set Terra’s interest rate at 3.6% because all tests above this rate resulted in UST’s collapse prior to the launch.

The core designer added that even the 3.6% ROI was too high; however, he decided to set the interest rate at that amount slightly higher than what traditional financial institutions are paying.

Notably, the rate was reduced because TerraForm Labs, at its initial stage, did not have enough funds to pay out interest to investors.

Kwon Ignored All Warnings

Despite all these considerations and the development of Terra’s Anchor program, the core designer learned a week later that Terra would proceed with the initiative with a whopping 20% ROI.

“Just before the launch, I suggested to CEO Kwon Do-hyeong that the interest rate should be lowered, but it was not accepted,” the developer added.

លោកបានបន្តទៀតថា៖

“I foresaw a collapse from the time we designed it. I informed CEO Kwon in advance, but he said he did not listen at all”

Kwon allegedly noted that if the company is unable to pay the 20% to investors, TerraForm Labs would “cut it all,” suggesting that the firm may end the program.

UST fell because the interest rate was too high relative to internal funds, the deficit continue to grow, and the slightest deterioration in market conditions caused it to collapse all at once.

Meanwhile, efforts to get comments from Kwon did not yield positive results.

មិនមែនថ្មីទេ

This is not the first time Kwon has been accused of being responsible for the collapse of Terra ecosystem tokens. During an investigation last month, a Terra employee disclosed that Kwon proceeded to launch Terra despite the fact that initial testing within the firm failed massively.

It is no longer new that Terra’s ecosystem tokens crashed as a result of the whopping interest rates paid to investors of Terra’s Anchor program.

- ការផ្សព្វផ្សាយ -