WebsCrypto
  • News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Markets
  • Business
  • Opinions
  • Press Releases
Facebook X (Twitter) LinkedIn Telegram
WebsCryptoWebsCrypto
  • News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Markets
  • Business
  • Opinions
  • Press Releases
Bitcoin (BTC) $26,374.07 0.44%Ethereum (ETH) $1,610.74 1.13%BNB (BNB) $213.74 0.56%XRP (XRP) $0.502089 0.08%Cardano (ADA) $0.245594 0.26%Solana (SOL) $19.17 1.04%Dogecoin (DOGE) $0.060946 0.22%Polkadot (DOT) $4.04 0.08%Shiba Inu (SHIB) $0.000007 0.04%Dai (DAI) $1.00 0.11%TRON (TRX) $0.085624 0.99%Polygon (MATIC) $0.510634 1.97%Avalanche (AVAX) $9.05 0.44%Uniswap (UNI) $4.35 1.47%Litecoin (LTC) $64.36 0.00%
Crypto Prices
WebsCrypto
News

Terra Key Designer: Expected to Collapse, Do Kwon Does Not Listen to Dissuasion to Enforce High Interest Rates

By WebsCryptoJune 8, 20221 Min Read
Terra Key Designer: Expected to Collapse, Do Kwon Does Not Listen to Dissuasion to Enforce High Interest Rates
Share
Facebook Twitter Telegram LinkedIn Reddit Email

The Anchor Protocol developer, who designed Terra’s core technology himself, said that it had long expected the collapse of Terra and Luna. The developer said the initial interest rate was designed to be 3.6%, because in order to keep Terra stable, the interest rate needs to be set slightly higher. on bank interest.

But given that there is not enough money inside the company to pay the interest, the deficit will continue to widen if the interest rate is too high, and a slight deterioration in market conditions will cause it to collapse all at once.

Advertisements

A week before Terra went live, Do Kwon raised the interest rate paid to investors to 20%. The developer said he had repeatedly suggested lower rates to Do Kwon, but it was not accepted, and Do Kwon said higher rates could attract investors.

Do Kwon has been asked several times about the matter by reporters, but he has yet to respond.

Related News:
  • Ethereum Founder Vitalik Buterin Weighs in on the Rise of RAI and Its Potential Impact on Lido’s Dominance in the LSD Ecosystem
  • Ethereum Is Approaching the Key Support, and the Long-Short Duel Continues
DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
Altcoin DeFi
WebsCrypto
  • Website
  • Facebook
  • X (Twitter)
  • Instagram

WebsCrypto is your best bet for the latest crypto news from around the world.

Recommended Reading

News September 27, 2023

Vitalik Buterin’s Recent Ethereum Transfers Raise Eyebrows in the Crypto Community

News September 27, 2023

Federal Reserve Report Explores Financial Stability Implications of Tokenized Assets, Citing Growth and Interconnectivity Concerns

Business September 27, 2023

Grayscale Faces Fee War in US Bitcoin ETF Race

Markets September 25, 2023

Bonds Surge in Appeal as Bitcoin and S&P 500 Navigate Third Quarter Downturn

Markets September 25, 2023

NFT Market Faces Significant Decline Amidst Broader Crypto Challenges

Business September 24, 2023

Crypto Companies Shift Focus Outside the U.S. Amid Regulatory Pressures

The Latest
News September 27, 2023

Vitalik Buterin’s Recent Ethereum Transfers Raise Eyebrows in the Crypto Community

News September 27, 2023

Federal Reserve Report Explores Financial Stability Implications of Tokenized Assets, Citing Growth and Interconnectivity Concerns

Business September 27, 2023

Grayscale Faces Fee War in US Bitcoin ETF Race

Markets September 25, 2023

Bonds Surge in Appeal as Bitcoin and S&P 500 Navigate Third Quarter Downturn

Markets September 25, 2023

NFT Market Faces Significant Decline Amidst Broader Crypto Challenges

EDITOR’S CHOICE
Ether (ETH) Prices are Trading at 27% Discount to Fair Value, New Research Shows
Robert Kiyosaki: Cryptocurrency is the Future, Fiat Money is on the Decline
Bonds Surge in Appeal as Bitcoin and S&P 500 Navigate Third Quarter Downturn
Crypto Companies Shift Focus Outside the U.S. Amid Regulatory Pressures
News
  • News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Markets
  • Business
  • Markets
Information
  • Opinions
  • Guides
  • Press Release
  • Sponsored
Price Indexes
  • Market Cap
  • Bitcoin Price
  • Ethereum Price
  • Cardano Price
  • Solana Price
  • Polkadot Price
  • Polygon Price
Services
  • About Us
  • Contact Us
  • Advertise
  • Privacy Policy
  • Terms of Service
WebsCrypto
X (Twitter) Facebook Telegram LinkedIn RSS
© 2023 WebsCrypto

Type above and press Enter to search. Press Esc to cancel.