What do you thing about Terra team?

[magneto]

In my opinion, the Terra Team is to blame for the entire bloodbath. They should have taken a more pragmatic and responsible approach. Things have only gotten worse for the holders.

I completely agree.

Do Kwon was clearly arrogant prior to the crash and that caused a lot of people to bet against them - probably accelerating the demise of the protocol.

But to be frank, I'm not sure why any investor really saw this as a sustainable investment.

Anyone with a basic economics background and did half-decent DD would understand that Anchor would eventually be depleted of its yield reserves, and if UST depegs slightly, then it would essentially send LUNA to zero (especially if LUNA's market cap is smaller than that of UST).

[leea-1334]

..... They should have taken a more pragmatic and responsible approach.

And what approach could this be in your opinion? They tried some solutions but it didn't work. I think they should have halted sooner.

There are people who have been saying that the whole Terra ecosystem had a flawed design from the beginning but I bet the team and those who fell for the hype ignored that.

Yes Mark301, please tell us exactly what is this more pragmatic and responsible approach?

I think Terra was always a shitcoin but you know what, they were actually more responsible than 99% of shitcoins in the space and still people bought them all blindly.

You shill MyCryptoParadise in your posts,,, I bet you 100% of all the coins shilled there are not pragmatic and irresponsible and yet you shilled them.

[robelneo]

In my opinion, the Terra Team is to blame for the entire bloodbath. They should have taken a more pragmatic and responsible approach. Things have only gotten worse for the holders.

I completely agree.

Do Kwon was clearly arrogant prior to the crash and that caused a lot of people to bet against them - probably accelerating the demise of the protocol.

But to be frank, I'm not sure why any investor really saw this as a sustainable investment.

Anyone with a basic economics background and did half-decent DD would understand that Anchor would eventually be depleted of its yield reserves, and if UST depegs slightly, then it would essentially send LUNA to zero (especially if LUNA's market cap is smaller than that of UST).

I don't have Luna when it's crashing  I just become interested in this stable coin because of how it contributed to the condition of the market, people invested here because they always looking at the chart and the hype its developers are creating in the community, we cannot go out of FOMO because of this we overlooked the mechanism until it failed and the project crashes.
Because of this investors especially those who lose a lot will check the mechanism of the coin they are investing in it's a very costly lesson but people have to move and hold on to what's left on them.

[sunsilk]

In my opinion, the Terra Team is to blame for the entire bloodbath. They should have taken a more pragmatic and responsible approach. Things have only gotten worse for the holders.

Well, I don't know if it's just a coincidence that the market went down because of them or it's a perfect timing that the market went down as we're about to enter the bear market.

But about blaming them, I'd say that they should be accountable for their negligence and incompetence. They've got a huge project and then a lot of issue had came out and it took quite long before they spoke about it.

[Maestro75]

What happened to Luna can happen to most projects if what I read online was the truth of what happened. I read that Luna depegged to BTC and that caused it lost of trust with its holders. The team took risk by that innovation to try out something new. But it is almost like it completely backfired. If it went positive for them maybe by now Luna price would have go up very well and all holders would be full of praises for the team. In business, risks are everywhere. I do not think the team did anything criminal. It is only a miscalculation.

[firesurfer]

Terra is not a good coin anymore as it has dropped a lot since the UST/USDT rate crash. Terra's team sold LUNA tokens and issued more LUNA tokens, the leading cause of the severe market crash. They were wrong in their risk management thinking that people bought into UST without thinking about the crash. That is one-way thinking.
Even the way they debug is very subjective and sloppy. They just begged for mercy from the community and couldn't master the lines of code in time. Consequences have been seen. Many people have lost all their money because of LUNA, had some breakdowns, and took their own lives.

[TastyChillySauce00]

This team was so garbage as fuck, they did nothing with LFG reserved funds and so what they have said to use to peg UST was not true at all. I think that the tera team was incompetence with what they said as well. This can be seen from the total tokens that are still increasing a lot despite the new claim by them if the new token can't be minted but they didn't even remember if this is a smartcontract where it can't be reversed. The price is dumping again.

[zasad@]

https://blockworks.co/do-kwon-breaks-silence-terra-luna-was-essentially-my-life/
Do Kwon Breaks Silence: ‘Terra-Luna…Was Essentially My Life’
"Kwon, who moved to Singapore prior to the Terra crash, said he did so out of fear for the safety of his wife and child.
Do Kwon stated that he did not plan to return to South Korea, moreover, he said that the authorities of the country did not contact him and did not file any charges. According to his version, his activity is just an unfortunate case, not a scam."

[israt1@]

All the blame should not be given to them. However, they are the lowest in the market. Because of this, many people have lost many things including their houses and cars. If they had paid attention to the market, they would have sold for such a large sum.

[UserU]

https://blockworks.co/do-kwon-breaks-silence-terra-luna-was-essentially-my-life/
Do Kwon Breaks Silence: ‘Terra-Luna…Was Essentially My Life’
"Kwon, who moved to Singapore prior to the Terra crash, said he did so out of fear for the safety of his wife and child.
Do Kwon stated that he did not plan to return to South Korea, moreover, he said that the authorities of the country did not contact him and did not file any charges. According to his version, his activity is just an unfortunate case, not a scam."

Whatever he says doesn't matter anymore.

He better pay with the lawsuits coming after him. From Celsius, Voyager and now this.

[virasisog]

https://blockworks.co/do-kwon-breaks-silence-terra-luna-was-essentially-my-life/
Do Kwon Breaks Silence: ‘Terra-Luna…Was Essentially My Life’
"Kwon, who moved to Singapore prior to the Terra crash, said he did so out of fear for the safety of his wife and child.
Do Kwon stated that he did not plan to return to South Korea, moreover, he said that the authorities of the country did not contact him and did not file any charges. According to his version, his activity is just an unfortunate case, not a scam."

Whatever he says doesn't matter anymore.

He better pay with the lawsuits coming after him. From Celsius, Voyager, and now this.

His defense and statements can't change the fact that Terra has ruined the lives of lots of investors. He is not the only one who is having this kind of trouble because Terra's investors also suffered from what happened to the said coin. Some of them lost hope and assets. He should really pay for what he did because it really had a huge impact on the lives of Terra's investors. Yes, crypto investment has risks but mismanagement should also something to be paid for.

[tygeade]

Whatever he says doesn't matter anymore.

He better pay with the lawsuits coming after him. From Celsius, Voyager, and now this.

His defense and statements can't change the fact that Terra has ruined the lives of lots of investors. He is not the only one who is having this kind of trouble because Terra's investors also suffered from what happened to the said coin. Some of them lost hope and assets. He should really pay for what he did because it really had a huge impact on the lives of Terra's investors. Yes, crypto investment has risks but mismanagement should also something to be paid for.

I mean just because everyone else lost, doesn't mean that he didn't lose neither. I am 100% certain that he would have preferred if the project kept going because it would have helped him as well. I would have kept that project alive until I die if I was the creator, and I am sure he felt the same way as well.

I am not trying to say he is a victim just like the investors because he made some profit from this, but that doesn't change the fact that it is not going to be a big deal at all, it is going to be still an upset for him no matter what. He was just a person who failed, and failed big, that is a scare for anyone, and he lived it in multi million dollar ways unfortunately.

[Imran232]

<.........>

Whatever happens on the market, it's all because of the Terra team. And that's not only my belief that is true. And whatever they say, I don't believe their opinion. And now they've launched their new coin, Terra Coin, and they're hoping we'll forget what they've done to us. I promised myself that I would not invest in Terra Coin or any other ecosystem coin. and I also believed that this was the end of Terra. And they are not going to be a project like Old Terra. because they lost their trust. That's my opinion. Thank you.

[NewRanger]

https://blockworks.co/do-kwon-breaks-silence-terra-luna-was-essentially-my-life/
Do Kwon Breaks Silence: ‘Terra-Luna…Was Essentially My Life’
"Kwon, who moved to Singapore prior to the Terra crash, said he did so out of fear for the safety of his wife and child.
Do Kwon stated that he did not plan to return to South Korea, moreover, he said that the authorities of the country did not contact him and did not file any charges. According to his version, his activity is just an unfortunate case, not a scam."

i have same opinion with DO Kwon , its not scam but its speciall case which is some one know the weakness of ust stable coin algorithm and expose it for their benefit, i am believe for those did it early have alot profits now.  in this case Do Kwon didnt get benefits from Luna scam ,even he still have effort to make it great again. maybe by living on SIngapore, SOuth Kore authority will not fire him , but its wrong if government to government have deal about this case..

[serjent05]

<.........>

Whatever happens on the market, it's all because of the Terra team. And that's not only my belief that is true. And whatever they say, I don't believe their opinion. And now they've launched their new coin, Terra Coin, and they're hoping we'll forget what they've done to us. I promised myself that I would not invest in Terra Coin or any other ecosystem coin. and I also believed that this was the end of Terra. And they are not going to be a project like Old Terra. because they lost their trust. That's my opinion. Thank you.

I agree, there are traces of evidence that one of their wallets is involved in crashing the UST market.  Aside from that Do Kwon idea of increasing the creation of Terra Luna, it was exploited by "hackers" and further crashed the market of LUNC.  Then shifting to a new chain by forking LUNC, the team completely abandon people who hold and spend a lot of money to support the LUNC market.  For sure he needs to be responsible to his decision that makes lots of people to lose their money.

[justdimin]

Whatever happens on the market, it's all because of the Terra team. And that's not only my belief that is true. And whatever they say, I don't believe their opinion. And now they've launched their new coin, Terra Coin, and they're hoping we'll forget what they've done to us. I promised myself that I would not invest in Terra Coin or any other ecosystem coin. and I also believed that this was the end of Terra. And they are not going to be a project like Old Terra. because they lost their trust. That's my opinion. Thank you.

That's true. They have failed the investors once, and they could do that again and we shouldn't be trusting them with our money at all. There isn't really a system where they could make sure that his never happens again, it could happen again and they would not be able to stop it another time.

You may think maybe it won't, and they will try their best, but ask yourself this; do you really think that they wanted this to happen first time? Of course not, we all know they didn't and yet it happened which means that they could try their best again and fail which would not be impossible. Hence, whatever else they do, they will always be a failure in my mind that I would never invest into.

[BRINIRHA]

I don't know if the terra team is entitled to take full responsibility or not. if this failure is due to an element of intentionality then it needs to be accounted for. but I think this could be purely an accident or a team negligence. so everyone is in control and the risks are each, both investors and owners. because high risk is common in crypto. and everyone knows that before getting into a project. However, I still feel there is something odd about the disaster that befell Terra. so I hope people should be more vigilant. and I will not dare to go back into the new terra. except for spot trading which is fast.

[gunhell16]

The fact that they disappointed their investors is a big impact of course, so that they can no longer be trusted. And I'm already one of them, although it's not big, I saw that most of the people who invested in this token invested millions of dollars and in an instant, it was dissolved and disappeared suddenly and it was difficult to get it back and the others never got back at all. It is always difficult to regain the trust of the community investors that they established when it was just starting.

So even if they create a new utility token, it's not that easy for them to get the big investors who once trusted them to invest again. So don't expect the terra team to recover. I wonder if this token is just waiting to cheat again and suddenly they will sell a large number of tokens again at the same time and run again in the end.

[X-ray]

All the blame should not be given to them. However, they are the lowest in the market. Because of this, many people have lost many things including their houses and cars. If they had paid attention to the market, they would have sold for such a large sum.

So many people lose their life savings and you said they must not be blamed? what a joke man. Those criminals must not only be blamed but must be jailed as well for another hundreds years. They were doing shady things. I hope do kwon wil be jailed as soon as possible.
Do kwon has been doing the biggest criminal in history of crypto. billions got wiped in a night.

[len01]

I don't know if the terra team is entitled to take full responsibility or not. if this failure is due to an element of intentionality then it needs to be accounted for. but I think this could be purely an accident or a team negligence. so everyone is in control and the risks are each, both investors and owners. because high risk is common in crypto. and everyone knows that before getting into a project. However, I still feel there is something odd about the disaster that befell Terra. so I hope people should be more vigilant. and I will not dare to go back into the new terra. except for spot trading which is fast.

failure in a project is a common thing and i'm not surprised if it happens, but for Terra, there is indeed a discussion out there who is responsible for all these accidents. whoever it is is at fault, but for me the owner of Terra should keep the coin in order to maintain its utility and not disappoint investors and the large community who have joined the Terra project.
i'm very disappointed, even though i don't hold Terra coins but it seems like there is no responsibility from the project owner instead wanting to print new coins. It's very disappointing when a big project like Terra already has a big community but they lose the trust of their investors.
but from this incident, it can make us more careful if we want to hold coins for the long term.