"If You Allocate Capital in a Vacuum, It's Kind of Meaningless" Do Kwon

In this week’s episode, we interview Do Kwon, cofounder of the Terra ecosystem, which includes a payments network, a stablecoin, a lending protocol and a synthetic assets platform. We talk about how he was able to achieve what most crypto companies can’t: Get a broad non-crypto native user base. Terra’s Chai payments system, which uses the Terra stablecoin, has about 2.6M active users in Korea. Kwon says there’s so much money to be made without bringing new people in, that many developers just settle with looking inwards in crypto.

Kwon explains how the Terra stablecoin is able to hold its peg, and how its use drives value back to the Luna token. We also talk about Anchor, Terra’s lending platform, and how it’s able to offer 20% fixed-rate yields.

Kwon dives into the vision behind Mirror, a synthetic assets trading platform. The goal is to give people anywhere in the world access to invest in US equities. He says US companies lead the world in terms of innovation but it’s very hard for people outside of the US to benefit from their growth.

At a time when much of crypto is focused on its equivalent of “Wall Street” or wealthy investors and speculators, Kwon wants to focus on making products for “Main Street.” Otherwise, he says, capital is just allocated in a vacuum instead of where there is actual production taking place.

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