Do Kwon has a plan to rescue TerraTerra tokens have come under a lot of heat recently because of the de-pegging fiasco of the algorithmic stablecoin UST (TerraUSD). Terra Luna crashed over 85 per cent on Wednesday, as previously reported by Business Today.
But Do Kwon, the founder of Terraform Labs took to Twitter to announce that he has recovery plan for the Terra tokens which he would announce soon.
He also thanked his followers for the support and said he “didn’t mean to be so quiet and needed to focus for some time”.
Kwon clarified that the recovery plan for Terra tokens was close to completion.
The cryptocurrency Terra Luna fell by more than 85% on Wednesday, according to data from CoinMarketCap. As of 12:30 pm IST, Terra Luna was trading at $6.18.
Also Read: What is Bitcoin mining? How does it work? - BusinessToday
Also Read: What are Stablecoins, and why are they not falling amid crypto market crash? - BusinessToday
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