Terraform Labs Appoints Former COO Chris Amani as Interim CEO

SINGAPORE, July 19, 2023 /PRNewswire/ -- Terraform Labs PTE Ltd. ("TFL") is pleased to announce the appointment of Chris Amani – former Chief Operating Officer (COO) of TFL – as Director and interim Chief Executive Officer (CEO). This appointment follows TFL founder Do Kwon's decision to step down as CEO on 31 March 2023 and as Director on 27 May 2023 while he focuses on personal legal affairs.

Leveraging more than 20 years of leadership experience at global technology companies such as Humanity, where he served as CEO, as well as MongoDB, Electronic Arts, and Zynga, and having played an integral role in TFL's strategy and operations, Mr. Amani is poised to accelerate TFL's mission during a pivotal point in the company's history.

"It's been a challenging year for Terra following UST's depeg, but the Terra community and TFL team have shown incredible resilience," said Mr. Amani. "After the depeg, the community overwhelmingly voted to rebuild Terra without algorithmic stablecoins. TFL's mission is to execute Terra's rebuild alongside them."

Mr. Amani continued, "The process won't be easy, but we have a clear vision of where Terra fits within the broader Web3 ecosystem and are hyper-focused on executing against that vision. We look forward to sharing more on this soon."

About Terra

Terra is an open-source, public blockchain hosting a dynamic and expanding ecosystem of applications. On Terra, users can build applications and organizations using the available suite of cutting-edge developer tools, or simply try out existing ones by connecting a wallet. The Terra ecosystem runs on its native cryptocurrency, LUNA, which provides its holders with staking rewards, governance power, and the ability to pay transaction fees. As a permissionless, borderless economy with low fees and fast transaction times, Terra enables next-generation financial products accessible to anyone with an Internet connection.

About Terraform Labs

Established in 2018 and based in Singapore, Terraform Labs (TFL) is a leading software development company specializing in blockchain technology. Powered by a globally distributed workforce of experienced Web3 developers and crypto natives, TFL is one of the few companies to have developed an end-to-end Web3 experience, inclusive of a blockchain, wallet, block explorer, RPC solution, set of apps, and a suite of developer tools. Aiming to enable the next evolution of the Internet built on robust, decentralized economies, TFL serves as a core contributor to the Terra blockchain and is the creator of products and tools such as Alliance, Warp, and Enterprise.

SOURCE Terraform Labs PTE Ltd.