Algorithmic stablecoin L1 with $200M total, capped by Jump Crypto's $150M round in July 2021 at a $25B valuation. UST lost its dollar peg in May 2022 and the whole thing unwound in a week, taking Three Arrows Capital, Celsius and Voyager down with it. Do Kwon is now sitting in a US courtroom while the original chain limps on as LUNC trading next to the dead memecoins..