Terra’s Downfall has led Do Kwon to be joking around in disarray!
Since the crypto market crash, the most affected stable coin UST and its sister token, cryptocurrency LUNA have not been able to bring back their peg value to $1. Even when most of the cryptocurrencies are slowly but surely rising back to normalcy, the tokens of Terra don’t seem to be reviving at all. Amidst the chaos, Terraform Labs founder Do Kwon, is found joking around about the Terra’s Ecosystem. The entire narration of Terra unable to revive back after the market crash has drastically shifted towards the actions and behaviors of Do Kwon.
FatManTerra shared a tweet where it is quite evident that Do Kwon is passing comments on Terra’s ecosystem. FatManTerra started his thread by saying, “Tensions are high, and the big sharks smell blood.” It is also believed that the dark knight of Terra is back and the times are not great for terra and its founder De Kwon. He also went on to reveal a thread which had the details of a recent interview between the validators and TerraForm Labs.
It is quite clear from the interview that, there were significant issues with the process of handling the Terra Crisis. A point which impacted the most from the interview is that, the people who are trying to save the ecosystem of the terra, are the same people who lost the most from the collapse of the ecosystem.
Joking about ideas – a tool for validation?
In a lot of situations, the concept of “Semi Joke Ideas” are often used as a tool to propose ideas without risking to hitting one’s ego. If at all the joke is laughed upon and the validators don’t find fault in it, the proposer tends to achieve the goal.
An Article by the American Psychology Association states, “Humans have fundamental need to belong.” The need is deeply rooted to the evolutionary process of the human and is also unavoidable of consequences for modern psychological processes.
It is evident that, Do Kwon is in a soup and is acting up due to the situations he has landed in. The disregard to the project Luna2.0 by TFL spokespersons, has surely added to the worries that Do Kwon has to face as he and his company continues to lose value in the crypto market. Whether the launch of LUNA2.0 be able to redeem Terra’s dominance back? Only time will tell.