Do Kwon, cofounder of Terraform Labs, was recently served subpoenas by the US Securities and Exchange Commission during Messari’s mainnet event, leading Kwon and Terraform to preemptively sue the SEC. On Unconfirmed, Kwon discusses:

what Terraform Labs does and how it is building its DeFi ecosystem around TerraUSD ($UST)
why Terraform Labs created its synthetics protocol, Mirror, and how it works
what Do thinks about the SEC’s investigation into Mirror
what happened to Do at Messari’s mainnet event
why the SEC’s approach to crypto regulation does not impact Do very much
what Do thinks about how US regulators are treating crypto companies
how Do would regulate the crypto industry
why he believes the current state of crypto regulation doesn’t work in a global context
why he says the SEC couldn’t do anything to TerraUSD -- even if it wanted to
what two characteristics are critical in building a decentralized protocol
how the crypto industry could improve security in light of the $130 million Cream Finance hack

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Episode Links

Do Kwon

Twitter: https://twitter.com/stablekwon

Terra

Twitter: https://twitter.com/terra_money
Website: https://www.terra.money/
Terra ecosystem: https://docs.terra.money/Reference/ecosystem.html

SEC Lawsuit

CoinDesk
- https://www.coindesk.com/business/2021/10/23/terras-do-kwon-was-served-by-sec-new-lawsuit-shows/
Terraform V SEC
- https://www.scribd.com/document/534537134/Terraform-v-SEC
Stephen Palley
- https://twitter.com/stephendpalley/status/1451709816020348933

Messari Mainnet Serving

https://twitter.com/gogoSlava/status/1439972015910408195

Miscellaneous

SEC charging Abra
- https://www.sec.gov/news/press-release/2020-153
Stablecoin market cap comparison
- https://coinmarketcap.com/view/stablecoin/

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