Apollo DAO to close vaults on Terra Classic
The protocol's TVL has plunged from around $200 million in September 2021 to less than $125K. Around the same time that a South Korean court issued an arrest warrant for Terra co-founder Do Kwon, Apollo DAO, a decentralized autonomous organization building on the Terra blockchain, said it was closing down its vaults on Terra Classic (LUNC) — formerly Terra (LUNA). The project's developers wrote: "Since the collapse of Terra, Apollo has continued to maintain its LP [Liquidity Provider] vaults on Terra Classic; however, due to the low return and high level of required maintenance, it no....
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Terra classic rose by over 40% on Monday, as markets reacted to the news that founder Do Kwon was wanted by Interpol. Cosmos also traded higher, rebounding from recent declines.
Terra Classic (LUNC)
Terra classic was one of Monday’s most notable movers, as the token rose by over 40% to start the week.
Following a low of $0.0001825 on Sunday, LUNC/USD rose to an intraday peak of $0.0003272 earlier today.
The move came following news that Interpol had issued a red notice for Terraform Labs co-founder Do Kwon.
Looking at the....