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Do Kwon is the CEO of Terraform Labs and a director at Luna Foundation Guard. On Unchained, he explains why LFG is spearheading a plan to partially back Terra\u2019s $15 billion stablecoin UST with Bitcoin. He also dives into another project idea that would transform developer salaries into financial assets that, as far as I can tell, he has not yet spoken about publicly.\n \xa0\n Part 1: Everything you need to know about Terra, UST, and BTC.\n how Terra works and why Do thinks UST will soon be the third-largest stablecoin\n why Do and LFG decided to back UST with bitcoin\n why Do thinks LUNA\u2019s price will continue to appreciate despite UST\u2019s new dependence on bitcoin\n how UST might perform if the price of a bitcoin were to crash\n why diversifying UST with different types of collateral could help Terra politically\n how LFG plans to use bridges, smart contracts, and an AMM reserve pool to secure its bitcoin\n why Do thinks Terra is now a Layer 2 project for Bitcoin\n who is deciding to purchase bitcoin and who determines what other assets to purchase as collateral for UST\n how a bitcoin reserve pool would help UST not de-peg from the dollar\n whether Do thinks Anchor\u2019s 19%+ yield is sustainable and why Anchor is moving to other chains\n \xa0\n Part 2: Do, the self-described \u201ctoymaker\u201d of DeFi.\n why Do is fascinated with creating a fungible labor market\n how developer working hours could become a token traded on an AMM and used to take out loans\n why Do thinks developer salaries in crypto should be cyclical\n how on-chain identity and history will be similar to credit scores\n why Do is a personal fan of Thorchain \u2013 but is reticent to use it as a bridge for LFG\n why Do is interested in Prism Protocol\n what Do thinks the impact of a pro-crypto president will have on South Korea\n \xa0\n Book events\n Keep up on all the latest events here!\xa0\n https://www.laurashin.com/book/#tour-dates\n \xa0\n Thank you to our sponsors!\n Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021\xa0\xa0\xa0\xa0\xa0\xa0\xa0\xa0\xa0\xa0\xa0\n Beefy Finance: https://beefy.finance\xa0\xa0\xa0\xa0\n Cross River Bank: https://crossriver.com/crypto\n \xa0\n Upcoming Book Events\n Wednesday, March 30: I\u2019ll be speaking (remotely) with Six Senses about The Cryptopians at 2 pm ET. Be sure to save your spot soon \u2013 space is limited!\n \xa0\n Tuesday, April 5: I will be doing a reading and signing hosted by the City of Miami Beach and Future Perfect Ventures at Sky Yard from 6-8 pm. Jalak Jobanputra, CEO of Future Perfect Ventures will be interviewing me. You need to RSVP by April 1 to dianafontani@miamibeachfl.gov.\xa0\xa0\n \xa0\n Saturday, April 9: I will be on a panel at the Annapolis Book Festival at 11 am.\xa0\n \xa0\n Tuesday, April 12: I will be at StartupGrind\u2019s global event in Redwood City, which is focused this year on Web3 (time \u2192 TBD).\xa0\n \xa0\n May 4-7: I will be in conversation with author Jimmy Soni at the PBS Seattle Crosscut Festival, which takes place from May 4-7.\xa0\n \xa0\n May 23-25: I will be at the Oslo Freedom Forum which takes place from May 23 to 25. Details on these events are TBD.\xa0\n \xa0\n Episode Links\n \xa0\n Do Kwon\n https://twitter.com/stablekwon\n Previous Unchained appearance: https://www.youtube.com/watch?v=683fXfedOZY\xa0\n \xa0\n Terra\n Twitter: https://twitter.com/terra_money\xa0\n Luna Foundation Guard: https://lfg.org/team/\n\n \xa0\n LFG Purchases\n Pomp \u2013 the $10B Bitcoin Bet on Stablecoins\n https://pomp.substack.com/p/the-10-billion-bitcoin-bet-on-stablecoins?s=w\n \n 3/10 BTC purchase\n \n https://twitter.com/LFG_org/status/1503680315969060864\xa0\n \n $1 BTC billion purchase\n \n https://twitter.com/terra_money/status/1496162889085902856\xa0\n \n TFL x LFG relationship\n \n https://twitter.com/stablekwon/status/1502225674840555523\xa0\n \n \xa0\n Terraform Labs proposal to make Terra inter-chain\n \n https://agora.terra.money/t/ust-goes-interchain-reasonable-strats-part-five/5024\xa0\n Anchor Going Cross Chain to Avalanche\n \n https://twitter.com/CryptoHarry_/status/1504309092411920387\xa0\n Jump\u2019s BTC reserve proposal\n \n https://twitter.com/terra_money/status/1506736478449127425\xa0\n \xa0\n Recent worries about Anchor APY being sustainable\xa0\n Do said Anchor yield shouldn't be sustainable (marketing scheme)\n \n https://twitter.com/stablekwon/status/1503154137420079107\xa0\n \n Arca + Polychain proposal: https://twitter.com/jdorman81/status/1502024302526304262\xa0\n \xa0\n South Korea\u2019s new President\n \n https://asia.nikkei.com/Spotlight/Cryptocurrencies/South-Korea-s-incoming-president-vows-big-cryptocurrency-push\xa0\n \xa0\n SEC subpoena\n \n https://www.coindesk.com/policy/2021/12/10/most-influential-2021-do-kwon/\xa0\n \nLearn more about your ad choices. Visit megaphone.fm/adchoices