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Breaking: Do Kwon proposes Terra revival, including token redistribution plan
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Terraform Labs co-founder Do Kwon has tabled a proposal to preserve the Terra ecosystem following the historic de-pegging of its algorithmic stablecoin, UST, and the resulting death spiral that plunged LUNA tokens to practically zero.
In a Friday post on Terra’s research forum, Kwon said, “The Terra community must reconstitute the chain to preserve the community and the developer ecosystem.” His proposal, which was in response to validator groups discussing the possibility of forking the Terra chain, involves compensating UST and LUNA holders who were unable to sell their holdings during this week’s price collapse.
Read more on cointelegraph.comAbout this in other media
Terra’s Revival Plan 2: ‘Much Ado About Nothing?’ Here’s what we ‘Do Kwon’ ambcrypto.com /1 day ago
Do Kwon summoned to parliamentary hearing following UST and LUNA crash cointelegraph.com /1 day ago
South Korean Financial Regulators Begin Terra Probes, Politician Calls for Kwon to Face Parliamentary Hearing cryptonews.com /1 day ago
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