From Chaos to Genius: The Crypto Industry's Wild Ride
The Terra ecosystem, founded by Do Kwon, was initially designed with a unique mechanism where its native token, LUNA, was intricately linked with the network's algorithmic stablecoin, UST. The process of minting new UST involved destroying LUNA tokens, thereby reducing their supply, while redeeming UST led to the creation of new LUNA, increasing its supply. This system functioned smoothly as long…