Do Kwon pitches revival plan for Terra blockchain, with distributions to LUNA and UST holders - BitcoinEthereumNews.com
blockchainDo Kwon pitches revival plan for Terra blockchain, with distributions to LUNA and UST holders05 / 15 / 2022Balita ng Ethereum ng Bitcoin Do Kwon, the co-founder and CEO of Terraform Labs, pitched a revival plan proposal on Friday following the collapse of the algorithmic stablecoin UST and its related Terra-based asset, Luna. The proposal, included in a post on a forum for Terra discussion, amounted to a restart of the Terra blockchain. “The Terra community must reconstitute the chain to preserve the community and the developer ecosystem,” Kwon wrote. Such a restart, as the proposal states, would create 1 billion tokens to be distributed among various community stakeholders. Such an approach would be necessary given the runaway inflation of Luna tokens, owing to the relationship between LUNA and UST, and the collapse in the market price of the Terra-based assets. The thinking goes that this approach would incentivize this community to stick around in order to rebuild. “While UST has been the central narrative of Terras growth story over the last year, the Terra ecosystem and its community is what is worth preserving,” Kwon wrote. Kunin ang Iyong Crypto Daily Briefn Inihahatid araw-araw, diretso sa iyong inbox. Kwons proposed plan calls for 40% of the tokens to