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Doo | StableLab Profile
Doo | StableLab

@DooWanNam

7,212
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1,074
Following
2,165
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8,987
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COO @StableLab ๐Ÿ‘€ Asia & BD Lead @MakerDAO ๐ŸŒฑ MA @JohnsHopkins ๐Ÿงถ Maker Mafia ๐ŸŒน

Seoul, Korea
Joined July 2018
Don't wanna be here? Send us removal request.
@DooWanNam
Doo | StableLab
2 years
According to credible Korean news site Money Today, Do @stablekwon requested to police for emergency protection as investors have been visiting his house.
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@DooWanNam
Doo | StableLab
2 years
$LUNA and $UST Korean investors have filed both civil and criminal lawsuit against Do for committing fraud. They also filed to order a provisional seizure (freeze) of his assets. They are represented by legal firm LKB & Partners.
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@DooWanNam
Doo | StableLab
2 years
Terra's unofficial Korean Kakaotalk community which has been operating since 2019 and composed of thousands of investors has been shut down. The last words admin said were: "This is really over... Validators are leaving too... He's going to sell the house and run"
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@DooWanNam
Doo | StableLab
2 years
Korean exchanges moving to potentially delist $LUNA
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@DooWanNam
Doo | StableLab
2 years
Korea's National Tax Service states Terra needs to pay $35 million in taxes. As Do has 92% of its Singapore entity and Do has residency in Korea, National Tax Service viewed it as a indirect Korean entity. And seeking to tax $790 million more for
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@DooWanNam
Doo | StableLab
2 years
Sad moment as many of these Korean investors bought Luna below $1 many years ago and have been staking most. They were perceived as successful crypto investors that all Korean traders were jealous of ๐Ÿฅบ
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@DooWanNam
Doo | StableLab
2 years
And next week, a Korean group "Victims of Luna, UST coins" is filing a lawsuit and petition against co founders Do and Shin for fraud and for conducting illegal fund-raising business. The group currently has over 1100 members.
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@DooWanNam
Doo | StableLab
2 years
Loses millions in $UST because didn't know the peg can break. And buy $Dai at $90k because it was pumping and didn't know it was a stablecoin... Koreans are just built different ๐Ÿซก
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@DooWanNam
Doo | StableLab
3 years
Nice, DeFi bull run confirmed ๐Ÿ‘Œ
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@DooWanNam
Doo | StableLab
2 years
I want to emphasize that violence is never an answer and there have been several incidents in Korea before. But such always have been caught eventually even if they flew abroad.
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@DooWanNam
Doo | StableLab
2 years
To clarify, both lawsuits didn't reach the court yet. But likely very soon
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@DooWanNam
Doo | StableLab
1 year
But to be fair, Koreans work 84 hours a week and get Spartan like education training just to lose their net worth trading meme coins on 20x leverage
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@FoundersPodcast
David Senra
1 year
Charlie Munger: Donโ€™t be surprised when you lose to people like this
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@DooWanNam
Doo | StableLab
2 years
To clarify, it's Do's wife who requested protection to the police. Not Do himself
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@DooWanNam
Doo | StableLab
4 years
Now #DeFi is a popular topic among Korean retail cryptomarket ๐Ÿ‘€ Can you guess what #DeFi coin they talk about the most?
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@DooWanNam
Doo | StableLab
2 years
At @EthereumDenver , I already got 5 Highschoolers asking me whether they should just do crypto instead of going for college ๐Ÿค”
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@DooWanNam
Doo | StableLab
3 years
Telling my parent about @SBF_Alameda "Yes billionaire. He's not even 30" "Son, you are also under 30. How come you are not a billionaire?"
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@DooWanNam
Doo | StableLab
3 years
The Korean government says DeFi will be at least taxed 25% and 6-45% additional if the annual reward is greater than $18k. ๐Ÿค”๐Ÿค”๐Ÿค”
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@DooWanNam
Doo | StableLab
3 years
Korean premium at 0.5%. What does it mean? ๐Ÿค” 1. Korean traders got screwed 2. Much less retail interest 3. Did I mention Korean traders got screwed? Basically $BTC went down 50% + 20% (Premium gone) for them... Press K to pay respects
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@DooWanNam
Doo | StableLab
3 years
Korean mainstream news today: "a foreign @IronFinance faced bank run and went from $60 to $0." "The foreign crytpo community that are represented by green frog responded 'my investments are with great companies. They will come back'" ๐Ÿคท
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@DooWanNam
Doo | StableLab
2 years
Always true with @DegenSpartan
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@DooWanNam
Doo | StableLab
4 years
Now it's cheaper for me to mint $Dai using $ETH as collateral than borrow fiat from bank with my real estate as collateral ๐Ÿค”
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@DooWanNam
Doo | StableLab
3 years
Many of my Korean friends and family members shared with me that they bought the dip ๐Ÿ‘Œ So unfortunately, it means the market is gonna crash even more ๐Ÿ’ธ
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@DooWanNam
Doo | StableLab
3 years
Could been my life if I finished PhD and became an Economics professor in Korea. Instead I am now farming what others view as magical fairy dust with some Danish dude and s***posting on Twitter. No regrets ๐Ÿฅฒ
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@DooWanNam
Doo | StableLab
3 years
I have to admit. I expected @terra_money to have its market but didn't expect it to be this successful. Maybe I was too bias as I believed Korean projects have their limits and also didn't see the larger picture beyond just stablecoin supply. Should think more flexibly โœ๏ธ
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@DooWanNam
Doo | StableLab
2 years
Korea's one of the largest bank Hana Bank planning to build bank metaverse with @TheSandboxGame . It's a good example of how Korean legacy finance is more warming to NFT ecosystem
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@DooWanNam
Doo | StableLab
3 years
1/3 Ok, quick informal Korean sentiment time. The current Korean cryptomarket sentiment can be summarised as following: exhausted And...Those that are hodling are passing time by sharing nudes and talking about girls and politics (similar to CT I guess) ๐Ÿคท
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@DooWanNam
Doo | StableLab
3 years
It was definitely worth to attend @NFT_NYC as I got to see @SizeChad in person! He was super friendly too ๐Ÿ˜ƒ
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@DooWanNam
Doo | StableLab
3 years
Korean traders are calling it "Bloody Friday".Korea's largest exchange @upbitglobal flagged 25 coins under "Investment Warning" (Mostly likely removed) and removed 5 coins. Some of these are popular Korean coins w/ high volume ๐Ÿ˜ฒ
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@DooWanNam
Doo | StableLab
2 years
People think only Algo stablecoins failed but in reality, all kinds of stablecoins failed before, including crypto backed like BitUSD, Vai, and fiat backed like KRWb, and many others. Each year, I get messages from stablecoin projects asking for partnership. Next year, dead ๐Ÿค”
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@DooWanNam
Doo | StableLab
3 years
Tbh, none of my Korean retail friends bought $MKR. "It's too expensive! Who pays for $4000+ per coin" Instead, they buy $XRP, $ADA, and $Doge that actually have higher marketcap. We are still early anon ๐Ÿฅฒ
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@DooWanNam
Doo | StableLab
3 years
Happy to announce that @StableNode is here ๐Ÿ˜€ What is it? What does it doo? Well, you will know the answers soon. Meanwhile follow the Twitter for updates ๐Ÿ˜Ž
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@DooWanNam
Doo | StableLab
3 years
20/20 F, no one would buy them ๐Ÿฅบ
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@DooWanNam
Doo | StableLab
2 years
A bit ironic
@DooWanNam
Doo | StableLab
2 years
Apparently, one of the lawyers representing the lawsuit (LKB & Partners) also lost money in $LUNA ๐Ÿซก
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@DooWanNam
Doo | StableLab
3 years
Projects. Just a week ago: "Sorry, we are oversubscribed" Today: "Hello! We opened up special investor slot for you" ๐Ÿค”๐Ÿค”๐Ÿค”
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@DooWanNam
Doo | StableLab
1 year
One of @MakerDAO 's challenges is to enforce when its collaborators break the offchain commitment. Of course all want loans and funding. But once secured, they quickly forget about such commitments. So more accountability and transparency are needed ๐Ÿค”
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@DooWanNam
Doo | StableLab
3 years
Korean traders are now creating support groups so they can hodl their shitcoins together ๐Ÿค”
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@DooWanNam
Doo | StableLab
3 years
Interesting, Hana Bank is applying for CBDC with using @cosmos
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@DooWanNam
Doo | StableLab
2 years
The fact that failed $LUNA marketcap is somehow still ranked higher than $MKR is a reason why we can't have nice things...
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@DooWanNam
Doo | StableLab
5 months
Uber has no cars Airbnb has no real estate L2 has no users Influncers have no shame This is the new economy
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@DooWanNam
Doo | StableLab
3 years
Stablecoins are difficult but interested to see how Icon #DeFi ecosystem will evolve
@BalancedDAO
Balanced
3 years
In just over 50 hours, 10 million Balanced Dollars have already been created. The response has been unreal. Other key stats: TVL (collateral): $63.556 million Borrowers: 1,423 TVL (DEX): $45 million LPs: 358 (sICX/ICX), 966 (sICX/bnUSD), 599 (BALN/bnUSD) Total fees: $ 150.7k
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@DooWanNam
Doo | StableLab
3 years
"Doo, are Koreans good with trading?" Hmm? (the 1st place is 0% as he didn't trade. Others all negative) ๐Ÿฅบ
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@DooWanNam
Doo | StableLab
3 years
US is the only country where they seriously ask you "North or South?" when you tell them you are from Korea ๐Ÿคท
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@DooWanNam
Doo | StableLab
3 years
Korean traders are threatening to kill themselves and the other traders are asking them to throw away their keys and kill themselves to help with the price ๐Ÿคจ And you thought Squid Game was a fiction?
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@DooWanNam
Doo | StableLab
2 years
Who wins in this war???
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@DooWanNam
Doo | StableLab
2 years
The Korean government is drafting a regulation to criminalize "Dumping coins" Me reading it: "WT..."
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@DooWanNam
Doo | StableLab
2 years
It's now 1.1% cheaper to buy Crypto in Korea and sell it abroad ๐Ÿค”๐Ÿค”๐Ÿค” Are you thinking what I am thinking?
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@DooWanNam
Doo | StableLab
2 years
Transferring assets to Luna Foundation Guard. It's considered gift in tax perspective and thus gift tax.
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@DooWanNam
Doo | StableLab
2 years
I am not sharing news on Terra to rub salt on wounds. I share updates from Korea as many don't have good access. It's just Terra happens to be on major issue in Korea at the moment
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@DooWanNam
Doo | StableLab
4 months
You might make unexpected friends during these floods. 2022 when there's a flood that killed 40 people in Korea during KBW. I was stuck in a building, asked for umbrella from the security guy to buy umbrella nearby. And he said no. So I didn't make friends but you might๐Ÿ™‚
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@DooWanNam
Doo | StableLab
2 years
1/ Many are visiting Korea for @buidl_asia @eth_seoul_ @kbwofficial , and I frequently got this question: "Who are good Korean teams / leaders in the crypto space to meet?" There are many interesting teams, but here are 24 you should definitely meet or at least learn of ๐Ÿ‘‡
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@DooWanNam
Doo | StableLab
10 months
If you are having a hard day, remember that I had to wear this for my job to wish for bull market in 2019. And bull market didn't even come ๐Ÿ˜…
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@DooWanNam
Doo | StableLab
2 years
One of Koreans who scammed me and bunch of others is out of prison today. Ironically, we lost the lawsuit but she ended up going to jail for scamming others in non crypto way ๐Ÿ‘ฎ The group is debating whether they should sue again as the Korean police understands crypto more ๐Ÿค”
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@DooWanNam
Doo | StableLab
2 years
I think it's a new record as the previous Dai pump on the Korean exchange was $20.
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@DooWanNam
Doo | StableLab
3 years
Flying back to Korea now โœˆ๏ธ I genuinely loved touring France and @EthCC . Made me seriously consider moving to Europe ๐Ÿ˜Š Looking for Crรจme Brรปlรฉe in Korea โค๏ธ
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@DooWanNam
Doo | StableLab
2 years
Update: $LUNA deposit on @BithumbOfficial is suspended.
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@DooWanNam
Doo | StableLab
9 months
It's now my 5th year anniversary contributing to @MakerDAO I thought I was crazy before Maker. I am crazy but so are others at Maker Thanks @KatiegarciaEth and @coulter for giving me the chance ๐Ÿ™ @g_dip for being my mentor ๐Ÿ™Œ @GArentoft for being Stable part of StableLab ๐Ÿ˜
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@DooWanNam
Doo | StableLab
4 years
Finance meets blockchain. @g_dip from @MakerDAO , @SergeyNazarov from @chainlink , and #AlwaysFun will be presenting in front of Korean National Assemblymen as well as many banks and fintech companies like @Visa on July 24th. Join us! (bring your own mask)
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@DooWanNam
Doo | StableLab
4 years
This actually happened back in 2018 by Korean exit scam Purebit Exchange. The scammer sent $ETH to random existing addresses, supposedly to confuse trackers. In the end, they were not caught and nobody that randomly received $ETH returned them either.
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@DooWanNam
Doo | StableLab
4 years
So it might be a surprise to some but @KyberNetwork is the most talked about #DeFi coin in Korea in more of retail channels like #Coinpan . But this is understandable as it's one of few #DeFi coins that are listed with KRW on all top 3 Korean exchanges. So more accessible. And
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@DooWanNam
Doo | StableLab
2 years
On-chain analysis firm and Coindesk share that a wallet that attacked Terra peg came from Terra team itself. Korean investigators are aware ๐Ÿค”
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@DooWanNam
Doo | StableLab
4 months
And who says Asians can't dance?
@StableLab
StableLab
4 months
The last time @DooWanNam was at ETH CC... We'll see you in Brussels ๐Ÿ‡ง๐Ÿ‡ช for a pt. 2 ๐Ÿ‘€
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@DooWanNam
Doo | StableLab
3 years
Answer to "Why doesn't Maker Governance just accept our coin as collateral?!"
@wilburforce_
Will Sheehan
3 years
Due to a toxic long tail asset (SWAG) dropping 97% in a day (!!), cream is sitting on ~$1.3m in bad debt
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@DooWanNam
Doo | StableLab
4 years
In Korea, among #DEX @KyberNetwork is probably the most well-known due to its token. But @UniswapProtocol probably also has a large usage here considering that there are numerous guides by regular users on how to use them.
@defidude
DeFi Dude
4 years
Give us your liquidity.
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@DooWanNam
Doo | StableLab
2 years
Apparently, one of the lawyers representing the lawsuit (LKB & Partners) also lost money in $LUNA ๐Ÿซก
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@DooWanNam
Doo | StableLab
2 years
$LUNA and $UST Korean investors have filed both civil and criminal lawsuit against Do for committing fraud. They also filed to order a provisional seizure (freeze) of his assets. They are represented by legal firm LKB & Partners.
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@DooWanNam
Doo | StableLab
3 years
I don't know. I like $UNI but is it really worth 8x of $SUSHI? ๐Ÿค”
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@DooWanNam
Doo | StableLab
4 years
Alright so @asukafinance , #YFI @iearnfinance fork made by a Korean guy exit scammed this morning. Here's what the Korean blockchain community knows so far ๐Ÿค”
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@DooWanNam
Doo | StableLab
3 years
Korea's ruling party might delay taxation on cryptocurrency to appeal to voters in 20s and 30s as the next presidential election is approaching ๐Ÿค”
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@DooWanNam
Doo | StableLab
3 years
1/20 Threads on why I haven't sold my #NFT ๐Ÿ‘‡
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@DooWanNam
Doo | StableLab
4 years
Can somebody share with me a tale of how @chainlink got so many meme makers? ๐Ÿค”
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@DooWanNam
Doo | StableLab
4 years
They been operating in Korea for a quiet long time. But there's also a lot of discussion about $LINK.
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@DooWanNam
Doo | StableLab
10 months
Everyone asking me "Doo, why is Maker pumping?" ๐Ÿ˜ฎ Nobody asking me "Doo, How are you doing?" ๐Ÿฅฒ
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@DooWanNam
Doo | StableLab
4 years
So @MakerDAO team has been in Korea for a while and building out #DeFi space here. Later, @originprotocol and @EOSDT got members in Korea. More recently, I see @chainlink and @PoolTogether_ also joined the Korean scene. Anybody else (non-Korean projects) that I am missing?
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@DooWanNam
Doo | StableLab
3 years
3/3 So much infighting and cries. Once again, so many borrowed money or even sold their house to trade crypto. So they are in pain. A lot fighting involves those that blame other members for their loss (I didn't sell because you guys said the project has good tech and etc)
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@DooWanNam
Doo | StableLab
3 years
One of the largest Korean banks KB Bank is fined for association with Korean premium arbing. A company gave false documents to the bank to send money abroad around $6 million. The bank was fined for requesting more false documents when the regulator asked
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@DooWanNam
Doo | StableLab
5 months
Don't find me in Denver this year. I need a full focus to ship products and every second matters. Got no time to deal with crying babies on the plane who shorten my lifespan by 5 years. or US Immigration officer who despite I visiting back and forth more than 50 times, is
@MonetSupply
monetsupply.eth
5 months
Not gonna be active on the conference circuit this year. Iโ€™m shipping a project (a real one) in Q2 (wouldnโ€™t expect a lot of you to understand anyway) so please donโ€™t DM me asking me where I am (im heads down shipping the project, ok) youโ€™ll probably get aired because iโ€™ll be
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@DooWanNam
Doo | StableLab
3 years
Ok, got more details ๐Ÿ‘€ They are working with POSTECH. Basically, they chose Cosmos because of its fast confirmation time and interoperability. Tested whether it can be used like cash as well as ability to use it for certain locations and time frame. Interesting stuff
@DooWanNam
Doo | StableLab
3 years
Interesting, Hana Bank is applying for CBDC with using @cosmos
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@DooWanNam
Doo | StableLab
2 years
Ukraine: $184 billion GDP, 41 million population, fighting for survival: raises $53 million (20 mil from the UN) NFT projects with no product nor users: raises $70 million ๐Ÿค”๐Ÿค”๐Ÿค”
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@DooWanNam
Doo | StableLab
3 years
Sometimes I am tempted to take a Twitter break, but then I realize that all other Korean CT are always so serious and inspirational. So you guys need my Korean meme Tweets to balance it out ๐Ÿ‘Œ
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@DooWanNam
Doo | StableLab
2 years
1/4 Many have asked me whether Do will likely go to jail in Korea. Based on my experience including suing against such and looking at friends who lost much before, the answer is No. Korea has a very strict definition of Fraud and understanding of crypto is limited ๐Ÿ‘‡
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@DooWanNam
Doo | StableLab
3 years
The Korean gov is planning to implement a new rule that criminalizes (fine+prison sentence) crypto insider trading...Also, any entity that mints crypto needs to submit white paper, legal opinion, coin review, operation progress, and etc. RIP Korea DAOโšฐ๏ธ
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@DooWanNam
Doo | StableLab
2 years
Chai Corporation which is co-founded by Do is a popular payment service in Korea. As Terra ecosystem mentioned it as one of key use cases for Terra stablecoin, there was concern. Chai shared that they removed the ability to deposit $KRT in February 2022. So not impacted
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@DooWanNam
Doo | StableLab
4 years
The Korean regulatory body states #DeFi doesn't fall under the upcoming regulation ๐Ÿ‘€
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@DooWanNam
Doo | StableLab
2 years
If I am slow to your message today, it's cause I am in military training so please understand ๐Ÿซก
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@DooWanNam
Doo | StableLab
3 years
Happy to announce that $DAI is listed on @BithumbOfficial . The first and only stablecoin to list on Bithumb ๐Ÿ”ฅ Giving large Korean community access to $DAI and #DeFi
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@DooWanNam
Doo | StableLab
2 years
Nadia @nad8802 talking about @MakerDAO and @MakerGrowth at @EthereumDenver ๐Ÿ”ฅ๐Ÿ”ฅ๐Ÿ”ฅ
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@DooWanNam
Doo | StableLab
4 years
So... @chainlink $LINK listed on Korean Upbit Exchange KRW pair and hit $64 on BTC pair. ๐Ÿ˜… Korean speculators are back I guess.
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@DooWanNam
Doo | StableLab
3 years
Imagine being bearish on minds behind @Orbit_Chain ๐Ÿ˜‚ @KLAYswap @BELT_Finance One of the smartest team in Korea
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@DooWanNam
Doo | StableLab
2 years
Many have reached out whether I am ok because 1. I am Korean and 2. I am pure degen (which is tbh the same as being Korean) Thanks for all the love โค๏ธ Thankfully, I didn't put my money in Anchor because I got liquidated before that ๐Ÿฅฒ
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@DooWanNam
Doo | StableLab
4 years
Since many of you guys can not make it, I will share interesting updates if any. A lot of legacy finance and blockchain companies ๐Ÿ˜€
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@DooWanNam
Doo | StableLab
4 years
Finance meets blockchain. @g_dip from @MakerDAO , @SergeyNazarov from @chainlink , and #AlwaysFun will be presenting in front of Korean National Assemblymen as well as many banks and fintech companies like @Visa on July 24th. Join us! (bring your own mask)
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@DooWanNam
Doo | StableLab
1 year
Korean (Kimchi) Premium is now turned into Korean Discount ๐Ÿค” Generally it means fall in interest in crypto from Korean retail, which ironically is generally a better time to buy cause you know you can always sell yours to Korean gamblers for 20% premium later when they FOMO
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@DooWanNam
Doo | StableLab
9 months
In most DAO governance ๐Ÿค”
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@DooWanNam
Doo | StableLab
5 months
This whole healthy meal + rice is $9 This allows us to save money to lose in 40x leverage trade ๐Ÿซก Follow me for more Korean trading advice ๐Ÿ™Œ
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