Some thoughts on TERRA 2.0.

(Probably won’t win me any points with the community and will definitely hurt my bags!)

A thread 🧵…

1/ Crypto is all about a magic combination of:
- identifying ideological problems.
- creating a technology to solve them.
- building a community of passionate developers to build amazing products to solve the problems.
- building a passionate community of investors and users.

2/ $LUNA did all of this around the problem of centralized, collateralized, stable money. Developers, Investors and users all wanted a truly decentralized stable money! (And they also wanted to earn 20% on it risk free 🤣)

3/ A movement was started around a UNIQUE COMMON PURPOSE AND MISSION.
Developers did their thing, passionate VC’s followed with money and investors and users that believed in the mission (or just 20% returns) followed passionately.

4/ The experiment failed! Just like 90% of the other experiments will fail. Only this one failed at size and failed much faster than anyone could have imagined! Anyone! It’s dead.