Solana wants to aid the wounded areas of South Korean crypto investors post-disaster of Terra

The global cryptocurrency market received the most disastrous news about the instability of a stablecoin, Terra (LUNA), in May 2022. Crypto investors incurred massive losses in their crypto wallets due to some horrified mistakes of the Terra Founder, Do Kwon, in South Korea. Now, there is a relief coming for Terra crypto investors, especially those who are South Koreans, from another popular cryptocurrency known as Solana.

Solana: Coming to the rescue

The Solana Foundation as well as the Solana Ventures have successfully launched a US$100 million investment and grant funds for different crypto projects for South Korean crypto investors. The main purpose of the rescue relief is to back up and support all those South Korean crypto investors who are in distress for the sudden unstable stablecoin price in the highly volatile cryptocurrency market in 2022.

Terra or LUNA-based platforms are gradually shifting to other blockchains such as Solana to gain support for the victims. The management of Solana blockchain has decided to aid those developers and crypto investors who are the victims of the grave mistake and carelessness of Do Kwon.

Meanwhile, Do Kwon is trying his level hard to gain back the trust of crypto investors by launching the new version of Terra (LUNA) in the form of Terra 2.0 or LUNA 2.0 with more advanced features. This strategy seems to be working in the highly volatile cryptocurrency market and is gaining the attention of multiple crypto investors. The main reason is that South Korea is focused on being the hub of digital assets in the cryptocurrency market.

The major downfall of Terra in May 2022 had the shutting down of multiple cryptocurrency projects based on stablecoin. Additionally, the South Korean government has imposed regulatory scrutiny more strictly on the laws related to the highly volatile cryptocurrency market. It does not only include stablecoin like Terra or USDT for Do Kwon, it applies to all.

Solana is trying to perform at a "web-scale" by integrating stablecoin through the partnership with the Terra stablecoin of one of the e-commerce giants known as TMON. The Solana blockchain network wants to expand the space for multiple developers, programmers, and crypto investors by opening the doors for different applications requiring payments. The main aim is to prioritize support for stablecoin, Terra (LUNA) to boost the decentralized finance ecosystem with Solana blockchain in 2022, after the fall of Do Kwon in May 2022.