Terra Interim CEO Says Any 'little Progress' Made Gets Derailed By Accusations

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Terraform Labs faces a “big hill to climb” as the progress of its various projects in development are constantly being impeded by frequent accusations against Do Kwon, according to Terra’s new interim CEO Chris Amani.

During a July 20 Twitter Prostori, z naslovom Pogovor skupnosti Terra, Amani joined several Terra employees to discuss the challenges ahead for Terra moving forward. This took place shortly after Amani was appointed as Terra’s new CEO, while the former CEO, Do Kwon, continues to battle legal issues.

Opozoril je, da je frequent allegations against Do Kwon, who is currently in a jail cell in Montenegro and facing possible extradition to South Korea or the United States, has shattered any momentum that Terra has been building recently.

"Vsakič, ko bi malo napredovali, bi sledila kakšna obtožba ali nekaj, kar bi nas iztirilo."

Cointelegraph reported on June 19 that Kwon was found guilty of attempting to leave Montenegro using a false Costa Rican passport. He was sentenced to four months in prison despite reportedly telling the court that he wasn’t aware the passport was allegedly forged.

Amani commented on Kwon’s situation saying it is “incredibly hard” to watch what he is going through right now, expressing his hope that Kwon’s name will be cleared so he can “come back and participate” as soon as possible.

In regard to Terra’s current developments, Amani revealed there are “maybe 9” different projects at various levels of development to be released over the coming months.

He declared that no new tokens will be launched with any of these new developments, as it will be focusing on “driving utility” back to its native token, Luna (LUNA).

We have 3 projects on the shelf, close to complete, looking for teams to finish off and launch on Terra. If you have a team to take one and want to learn more, let @mc_ust vem.

— Chris Amani (@fleece_cannon) Julij 20, 2023

Amani emphasized that it is going to be a “big hill to climb,” but believes it is not a unique situation within the cryptocurrency industry.

»To ne bo lahka obnova; Mislim, trenutno v kriptovaluti ni nič enostavno,« je dejal.

He explained that the shortage of liquidity is due to decentralized finance (DeFi) applications having to compete with risk free rate of returns that are “fairly compelling right now.”

Povezano: Začetek sodnega postopka za soustanovitelja Terraform Labs v Južni Koreji: poročilo

He further acknowledged that Terra currently faces difficulty competing with other layer one blockchain projects, as it “doesn’t even have a treasury of Luna.”

“Despite the lack of activity in crypto, despite the bear market, it’s still incredibly competitive from a layer one perspective. There are still teams with very big treasuries that can pay developers a lot of money to come build on their blockchain.”

However, he claims that most employees have chosen to stay with the company, despite the controversies it has faced.

"Uspelo nam je zadržati velik del ekipe, ki je bila tukaj pred depegom," je dejal.

Revija: SEC pregleduje sodbo Ripple, ameriški zakon zahteva nadzor nad DeFi in še več: Hodler's Digest, 16.–22. julij