Do Kwon to"restart" Terra
Over the weekend, Do Kwon, the founder of Terraform Labs, proposed a"Terra Ecosystem Revival Plan" in a post on a Terra-related forum, which amounts to a restart of the whole Terra blockchain, with network ownership distributed fully to UST and LUNA holders via 1 billion new tokens. The CEO also acknowledged that the Terra ecosystem had completely collapsed.
Forty percent of the new tokens will be distributed to LUNA holders, who owned tokens before the de-pegging event, with another 40% allocated pro-rata to UST holders. The remaining 20% will be distributed to LUNA holders who held at the end of the chain's halt, and the community pool, which will be used to fund future development.With this approach, Kwon hopes to encourage existing members to stay on board after the project's failure.
We are waiting for luna's good news. Luna can reach the moon. 🚀🚀🚀🚀🚀🚀🚀🚀🚀
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Terra Skyrockets 1000% On Bullish Sentiments As Traders Envision LUNA As “The Next Shiba Inu”After losing over 99% of its total value on Thursday, LUNA’s price surged over 1000% to $0.0005395 on Saturday, igniting bullish sentiments...
Source: CryptoPanicCom - 🏆 563. / 51 Read more »
Terra (LUNA) trading volume surge 200% as market adjusts to death spiral'Revival plan' vs. 'insane volatility': $LUNA trading volume bounces back to nearly $6 billion. Cool! Yes we need to save $luna. Save $luna, save entire crypto market. This is critical for all at this stage. 💯 Death rattle it will survive, hodl and RecoverLunaLoss
Source: Cointelegraph - 🏆 562. / 51 Read more »
Binance CEO Breaks Silence, Says Terra (LUNA) Should Have Handled the Collapse DifferentlyBinance CEO Changpeng Zhao says he’s unhappy with the way Terra handled the collapse of its native crypto asset LUNA and its stablecoin TerraUSD (UST). In a lengthy thread, Zhao tells his six million Twitter followers that Binance reached out to the people behind Terra and made suggestions on...
Source: CryptoPanicCom - 🏆 563. / 51 Read more »
The Block’s VP of Research Shares Document that Suggests Binance Invested $300m in Terra (LUNA)Summary: Larry Cermak has shared a document showing that Binance might have invested $300 million in Terra Mr. Cermak was responding to a Tweet that suggested he might have lied on his claims that Binance was a significant investor in Terra CZ had earlier refuted rumors that Binance had invested...
Source: CryptoPanicCom - 🏆 563. / 51 Read more »
Justin Sun Talks USDD Stablecoin in Wake of LUNA/UST UnravelThe controversial crypto entrepreneur explains how an algorithmic stablecoin can still succeed while denying rumors he was behind the de-pegging of Terra’s failed UST. 0x_bae justinsuntron WHYYYYY is coindesk hosting frontpage interviews to someone who is looking to replicate the Luna concept (but worse). What is wrong with crypto and crypto media, i hate this space . Get this scumbag of my frontpage of twitter and stop scamming retail with a new shiny ponzi 0x_bae justinsuntron Dont trust on tron 0x_bae justinsuntron ankr Web 3
Source: CoinDesk - 🏆 291. / 63 Read more »
Singaporean LUNA and UST Investor Reportedly Files a Police Report Against Terra’s Do KwonSummary: A user on Reddit claims that he has filed a police report on behalf of 1,000 Singaporeans against Terra’s Do Kwon and the LUNA project The police report states that the concerned citizen lost money in ‘the Luna Cryptocurrency scam’ Earlier today, Do Kwon had clarified via Twitter that...
Source: CryptoPanicCom - 🏆 563. / 51 Read more »