Do Kwon

Played a central role in designing Terra's algorithmic stablecoin architecture and the LUNA economic model that underpinned peg mechanics. Authored the Terra whitepaper and led Terraform Labs in implementing the mint-and-burn mechanism that expanded or contracted LUNA supply to stabilize UST, and defined issuance rules, staking rewards and governance parameters used on the mainnet. Spearheaded launch and productization of major ecosystem protocols, including promotion and operational backing for Anchor (high-yield savings protocol) and Mirror (synthetic asset protocol), and created the Luna Foundation Guard to accumulate external reserves (notably BTC) intended to defend the UST peg. Directed on-chain governance proposals and parameter changes that adjusted monetary policy levers, reward schedules and burn rates affecting circulating LUNA supply and utility. Decisions on protocol mechanics, reserve accumulation and product incentives directly produced market outcomes: growth of on-chain demand for UST and LUNA during expansion, and the rapid supply contraction/expansion dynamics that amplified the 2022 depeg and collapse. Subsequent actions included proposing a chain migration and token redenomination (Terra 2.0) and public communications that influenced emergency governance votes and market perception, leaving a durable imprint on LUNA's design and eventual market failure.