Will Chen (dx/acc)
@stablechen
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cofounder @IdyllicLabs , r&d devtools @terran_one & @cosmology_tech , ex-devrels @terra_money , @ucberkeley '19. civilizations, language, computation, intelligence
Anchorage, AK
Joined October 2015
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Pinned Tweet
prioritize lowering barrier to entry and reducing friction over increasing capabilities and performance
it is more important to get started than to get it awesome -- it may never be awesome if it never gets going
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The community is deciding on a new
@terra_money
, between restoring a snapshot prior to attack, removing TFL, fully collateralizing UST and drafting & deliberating new mechanisms for $LUNA.
We must salvage the remaining value in the ecosystem & community and rebuild the right way
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Status update: a grassroots movement from a consortium of
@terra_money
developers is rallying support for restoring the ecosystem & L1,
This time with actual decentralized ownership by its users, not TFL.
If you're a Terra developer interested in joining the movement, DM me.
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I just realized
@terra_money
v2 is NOT a "fork".
It's a brand new network, with fresh state, no market, treasury, oracle modules and WASM state.
Terra Classic will probably burn $LUNC, and the rebirthed Terra provides a positive future for $LUNA.
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We need to make $UST holders whole.
We need a new network without $UST.
We need to keep
@terra_money
devs.
We need a new direction for $LUNA.
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Last week,
@terra_money
underwent a devastating attack, but they underestimate the resilience and unity of the
#LUNAtics
family.
Rebuilding from a fresh start won't be easy and needs all of our support.
Count us in.
@realTerranOne
and
@scv_security
reporting for duty ser!
10/ Call to action: we encourage Terra developers to signal support & commit to build on the fork on public channels ASAP.
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Even without a "decentralized" stablecoin $UST, $1000 $LUNA and charismatic psychopath
@stablekwon
, the
@terra_money
ecosystem still has the best developer tooling and largest community of
@CosmWasm
builders.
Awaiting the community decision on a new path without Terraform Labs.
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The ambition and solidarity borne out of collective pain of the
@terra_money
depeg, decentralized coordination by a grassroots movement of volunteer devs is a unique phenomenon in crypto; can't think of anything else quite like the $LUNC community.
This has changed my mind.
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I invested around 3.5 years of my life in the
@terra_money
ecosystem, working on dev resources and helping others start projects in the space.
Though my livelihood is destroyed, I don't regret the time I spent so deeply involved in this community, and the amazing friends I made.
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Whatever the decision of the
@terra_money
community is on how to rebuild, recover, and heal -
@realTerranOne
will back to its fullest.
We're sticking to our original plan of dev tooling products for Terran builders, as well as the greater
@cosmos
ecosystem.
In Solidarity,
Will
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Community war room of composed of validators in session with a mission to do the impossible - revive
@terra_money
with a plan.
Have never seen a more vivid display of compassion, focus, and mixed into one discussion.
A new path forward for the blockchain's future underway.
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The
#LUNAtics
are the craziest bunch of people - passionate, resilient, and just full of amazing ideas on how to survive this tragedy together.
Very optimistic about the future of
@terra_money
- wait for the dust to settle before you make a permanent decision.
Life > Money
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Ugh I just wanted to sit at my computer, eat ramen and work on dev tools with
@sklivvz
and the
@realTerranOne
gang -.-
The
@terra_money
ecosystem can be salvaged -- not everyone will be happy but something is better than nothing.
The proposal will be up on Agora soon.
#FDK
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Giving this more exposure as I agree with the need for a framework amid the chaos if we are to rebuild.
@terra_money
$LUNA
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You will likely not take a full loss if you've been hurt by this crisis.
Help is on the way - don't assume silence is damning.
@stablekwon
& co. working tirelessly behind the scenes to restore insofar as they can.
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The $USTC repeg is the first time something like this at this scale has ever been attempted by a community.
Like $LUNC, once the communal effort to repeg $USTC makes progress / momentum that defy the odds and surprises all the non-believers, everybody will want to join in.
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PSA: I do not work at Terraform Labs (TFL), the foundation that supports
@terra_money
- I left Oct 17, 2021 to lead
@realTerranOne
, an R&D lab for dev tools like
@cwslang
.
I am NOT leading the effort for a fork; only posting updates from the Terra / $LUNA rebuilding community
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I miss financial stability and the potential to support a wife and kids
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I speak not as a former member of
@terra_money
, but as a member of its active and united developer community.
We'll build it back again, and we'll do it right this time.
No shortcuts, and an emphasis on security and sustainability.
In the long term, this was needed for $LUNA.
If you can make one heap of all your winnings
And risk it on one turn of pitch-and-toss,
And lose, and start again at your beginnings
And never breathe a word about your loss;
If you can force your heart and nerve and sinew
To serve your turn long after they are gone
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Not gonna lie,
@terra_money
incident last week severely disrupted momentum for my team and me personally.
No matter how great a setback this has been, we must remember that life goes on and to return to doing meaningful work.
Maintain steady progress with little wins every day.
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This new
@terra_money
is decentralized AF, seeing all these community-driven small committees forming and engaging in focused discussions, delegating responsibilities, - something that I never expected.
Bullish on Terra2.
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for the first time in over 2 years I don't feel FOMO and feel grounded to reality once again
the plan to build an amazing developer experience stays the same, only now with much more resolve, clarity and focus
ready to build
@terra_money
up again from the ashes
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Calling for all of our friends to pledge in solidarity.
#TerraIsMoreThanUST
@prism_protocol
@NexusProtocol
@staderlabs
@astroport_fi
@mars_protocol
@coinhall_org
@ApolloDAO
@nebula_protocol
@OnePlanet_NFT
@Unopnd_Official
@randomearth_io
@knowhere_art
@GENEProtocol
@st4k3h0us3
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"You never cure structural defects; the system corrects itself by collapsing."
- Nassim Taleb
We start anew without the structure defect present in $UST from the old
@terra_money
chain, as well as centralization risk of TFL's majority ownership.
To Terra2 and onward! $LUNA
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Proposal put forth by
@stablekwon
after endless hours working with the community of
@terra_money
builders.
A future for Terra as a chain with owned by the community instead of TFL.
The old chain remains to recover $LUNA value. 2 worlds, 1 family.
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Whichever future we decide on, I will always love my
@terra_money
& $LUNA family.
This unique group of people I've grown so close with over the past 4 years have always amazed me with their bold entrepreneurship, intellectual curiousity, and sensitive compassion.
#SYOTOS
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the real flippening is not $ETH and $BTC but $UST and USDT
stay tuned 👀 all eyes on $LUNA 🌔 this year
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No matter how this develops, Do Kwon has altered my life path for the better and given me purpose, stability, and personal autonomy.
I'm certain this is how many people feel as well.
I trust
@terra_money
& $LUNA as I've only ever seen them act in good faith for its community.
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It's crazy how many talented minds in $LUNC are dedicating their time willingly to work on ideas for the $UST (classic) repeg.
Effective Altruism?
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Terraform Labs is based in Singapore.
Terraform Labs Korea was dissolved "just days before the crash" -- I suspect this is purely coincidence.
When I was at
@terra_money
, the plan to move to Singapore was already underway and many Korean employees were encouraged to move.
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Terra2.
Some of the smartest developers, projects and minds in the space built on Terra and are now looking for a fresh start.
Which chain would make the best new home? 👇
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Today is my last day at
@terra_money
, I am leaving to run
@realTerranOne
full time, which will be working on dev tooling and other products to support Terra.
Thank you
@stablekwon
for welcoming me into this family and teaching me so much; it has been an amazing 2 years.
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Imagine the guy who has to write the indexer to account for all the places people can have $UST and $LUNA for the genesis airdrop and vesting.
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People who think we're "just giving up" and will make "forks"
#3
,
#4
, ... upon encountering the slightest adversity don't know how many difficult situations
@terra_money
has been through over the last 4 years.
This is the first time a network reset, the last option, makes sense.
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Don't know why people think a "fork" equals no burn. The two are not incompatible.
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"are you ok?"
"are you gonna be alright?"
Have been checking in with friends all week but all I've heard is "yes," when they're obviously going through a lot.
Never taking "yes" at face value again when I suspect something isn't.
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The biggest challenge $LUNC will have to face in the following months is clarifying the incentives.
Who are the $LUNC whales? Who controls the network?
I would imagine it hard to attract projects to build on Terra Classic until the rebels figure out who they're working for.
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It's never easy when the interests of investors is pitted against developers.
Ultimately, the value of the
@terra_money
network was its ecosystem of 3rd party builders.
A new Terra without the "decentralized" stablecoin narrative is the sustainable path forward for $LUNA.
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.
@terra_money
is a apple inc of crypto
- world class craftsmanship on user experience
- unmatched level of tight vertical integration
- builds all tooling in house, leads the
@cosmos
ecosystem with many key innovations
- charismatic psychopath at the helm
- think different
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There is no fork.
Only a new
@terra_money
network for the future of builders.
Calling on TFL &
@stablekwon
to buy back and burn $LUNC insofar as they can so my dad and exes can withdraw their Anchor savings and retire / afford law school. 😥
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1/ Today
@terran_one
is releasing CWSimulate: an online playground / visual tool for interacting with
@CosmWasm
smart contracts.
This is the first of many developer tools we'll be shipping over the course of the next couple weeks.
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It's time.
@realTerranOne
votes YES with
@TerraBuildersU
's proposal.
Looking forward to building the future of
@terra_money
together with a new direction for $LUNA.
Validators and delegators -- if you haven't yet, make your voices heard.
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$UST will rescue $BTC from $USDT and
all its evils:
- fake leverage
- regulatory risk
- centralized issuance
@terra_money
returns cryptocurrency to the original narrative and values it was meant to champion: broad mass-adoption & decentralization.
$LUNA 🌔
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This is for those people - doing this right means reallocating ownership from TFL into people who had real skin in the game.
@stablechen
@terra_money
What about the hundreds of thousands people. Who kept supporting during the dump?
Burn that damn ust. And use the collaterized btc holdings to buy back luna
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Constant positive feedback makes you numb to poor decisions.
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Tell me you burn $LUNC without telling me you burn $LUNC.
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discipline of a Terran, adaptability of a Zerg, dedication of a Protoss
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Everywhere I post, an entourage of nagging arsonists are sure to follow and spam the comments section.
Heed my power lest I summon the horde and wreak havoc upon thy Twitter with relentless shreiks and howls to burn the moon coine.
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I am also participating in the community discussions and doing what I can to help bring together momentum / support where it is.
It is a chaotic time, and extremely draining to look through and provide feedback on all the ideas amid complaints, threats, and pleas.
Thank you.
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People are saying Terra $LUNA is like $ETH in its early days.
True price-wise, but something ETH has been missing that Terra has had since DAY ONE:
Tunnel-vision focus on real-world adoption through usable products that bring the tangible benefits of crypto to everyday people.
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painful, but really appreciate what happened today
- $LUNA ecosystem displays solidarity
- fragilities from unchecked rapid growth now taken seriously
- true priorities in
@terra_money
are revealed
- checking in with old friends I haven't talked to since I left TFL
- ramen 🍜
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Actually the "stable" in my handle does not refer to my affiliation with
@terra_money
but rather my affinity for horses.
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I'm confident a $LUNC <> $LUNA partnership would benefit both ecosystems.
A $LUNC layer built atop $LUNA enables access to all the hard work
@terra_money
has been putting in, and secures a future of continued relevance, alignment and collaboration.
$LUNC needs technological…
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Thanj you to everybody who reached out to me, I was in a dark place. I am glad that Twitter has given me so many frens along the way, both in $LUNA and $LUNC communities.
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I honestly believe that developers have a better chance by staying with the new
@terra_money
chain over migrating to Juno.
Given a massive surge of available Terra devs on the market I don't expect negotiation terms to be great.
Or maybe I have a thing against teen pregnancy.
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I feel a great rift between the $LUNA and $LUNC communities; as if our brothers and sisters were suddenly separated by an arbitrary line, borne out of a calamity of which they had no control. yearning to be reunited. I dream of these two Kore- err, *cough* moons to become one.
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Reminder that all crypto prices reflect are unrealized profits.
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If the
#LUNAtics
can get through this and prove
@terra_money
v2 to be a valuable platform beyond the $UST (and its sister stablecoins)...
Glory to $LUNA
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$UST is designed to withstand shocks, that's what an algorithmic stablecoin does
compare if $UST goes to $0.90 or $1.1 vs $USDT - the peg bends in one and breaks in the other.
I blame TFL for creating the wrong expectation with prior posts implying instantaneous peg stability
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There ain't no such thing as a free $LUNC
(TANSTAF🌔🔥)
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I'm so glad we decided to work on much needed dev tooling and infra instead of building yet another
@anchor_protocol
yield-based protocol.
Nothing has changed for
@realTerranOne
and we're still on track to deliver on schedule. Except more 🍜.
We aren't leaving
@terra_money
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"If $LUNA doesn't hit $1000 by 2025, I will eat my dick on national television."
- John McTefi
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If anybody's looking for a technical engineering manager / senior developer who has experience working with
@CosmWasm
and
@terra_money
/ $LUNC (and other
@cosmos
blockchains), I have a former
@terran_one
employee who's looking to join a team.
DM to be connected
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lol the guy I bought a vape from was legit shilling me $LUNC without my Terra shirt on
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Terra can't make it "disappear" - the vote passed and was executed automatically by the system. However the execution failed due to incorrect parameter (malformed proposal that was not caught by proposer).
We will have to redo the proposal.
I can check for validity.
@stablechen
@terra_money
In fact, you can change the market's opinion just by burning the extra luna and ust, but you obviously don't. The burning ust proposal in the community was passed, but terra used the system to make them disappear.
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so many great ideas for the new direction of $LUNA, can't wait to see what the community decides on for the future of
@terra_money
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It's like Do Kwon just effortlessly deploys new strategies for $LUNA and $UST every few days.
In reality these have been in the works for a couple weeks if not months, with many more in the pipeline.
Bold move to bet against the calculation of the charismatic psychopath.
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$LUNC ain't what it was 6 months ago, kind of shocked at how things turned out
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Which chain will you be building on?
Terra Classic
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Terra 2
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Turkish 🇹🇷🦃 $LUNC Twitter is on a whole 'nother level
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If it shrinks by 99.99% it needs to grow by 1000000%. Let's be realistic, this isn't going to happen.
The only way back to a proper ecosystem of 3rd party apps for
@terra_money
developers to rebuild, as the old platform is irrecoverably damaged & suffers from structural defects.
Many people implicitly assume that if a number shrinks by x%, it has to grow x% to get back to its old value. That's not far off for small x. A number that shrinks by 10% only has to grow about 11.1%. But a number that shrinks by 75% has to grow 300%.
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Agreed! The new network is a space for development to continue, but does not substitute as restitution on
@terra_money
/ $LUNA classic.
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You're living through the final days of a rare and beautiful moment in
@terra_money
's history.
The days when only 2 dApps existed on the Terra chain will soon be but a distant memory, a story for your grandchdren.
Grateful to be so incredibly early in this amazing journey.
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Every current stablecoin revival for $LUNC / $USTC proposal should be considered and tested, especially the strategy by the "quant" team.
But let's get at least try to get one stablecoin up and running first.
Working on simulations for my mesh stability idea right now to…
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@RebelAckbar
@TerraRebels
I think $LUNC is still a very long way from where it wants to be, and the road to get there will be hard if you doubt the intentions of everybody who wasn't very supportive in the beginning! 🤓
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