Terra creator Do Kwon said in a tweet thread he was "heartbroken" that his creations functionally lost all of their value this week.
Kwon, who founded Terraform Labs - creator of the LUNA governance token, the TerraUSD stablecoin and several other cryptocurrencies - said he has spent the last few days calling various community members because the tokens have lost all of their value. Luna, which was worth nearly $120 in early April, collapsed dramatically this week and was trading at 0.03 cents at press time.
"I still believe decentralized economies make decentralized money - but it's clear that $UST in its current form will not be that money," he tweeted.
TerraUSD (UST), a stablecoin whose value should remain pegged to the dollar, lost that peg earlier this week and never recovered.