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Shiv Juneja

Terra Designer Says Do Kwon Purposely Increased UST Interest Rates From 3.6% To 20% After Being Warned

Do Kwon Terra UST Interest Rates LUNA Terraform Labs Crypto

A new report claims that Do Kwon, Founder of TerraForm Labs and Terra (CRYPTO: LUNA), intentionally hiked Anchor Program’s interest from 3.6% to 20%, despite warnings.

What Happened: Mr. B, a designer on Terra’s Anchor Protocol, disclosed to Korean media outlet JBTC, on June 6, that Do Kwon anticipated the fall of Terra. He further revealed that designers had fixed the protocol’s interest rate at 3.6%, as any test run at a higher percentage rate indicated TerraUSD (CRYPTO: UST) would fail.

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