Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Once Popular Coins (Graveyard) => Other Popular Cryptos / Coins => Terra LUNA Forum => Topic started by: Oxumare on May 17, 2022, 09:15:29 AM
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Terra CEO Do Kwon proposed a new fork, presenting the second of his salvation plan to the community.
In his proposal, Do Kwon stated that as in the previous proposal, Terra should be forked, the name of the old chain should be changed to Terra Clasic, and the coin would be LUNC.
Token distribution
The new Luna token with a supply of 1 billion units:
25% to community pool for governance stake
Emergency development fund with 1% unlocked
4% development fund
35% on the chain image to be taken before the UST drops below $1 (May 7, 2022): wallets with less than 1 million Lunas and wallets with over 1 million Lunas, with different conditions
To Luna owners with 10% on chain image retrieved after network initialization (May 27, 2022): 10% unlocked 90% unlocked within 2 years
To UST holders, 25% of which are in chain image retrieved after network initialization: 10% unlocked 90% of deployed will be distributed unlocked over 2 years.
Source : https://agora.terra.money/t/terra-ecosystem-revival-plan-2/18498
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I think this is not the right solution to restore investor confidence, especially since many have lost due to the drastic drop in prices. I agree more if the terra team buys back Luna or burns it to increase the price rather than hard fork
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I have Luna coins which I bet on Terrastation. this is not a solution but rather for them to leave their responsibilities as developers, in case the developer doesn't let LUNA drop near 0 and they can disable the chain when the attack starts.
A fork is not the solution, I've cut my losses by $14/coin and have some LUNA in my TerraStation wallet.
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I have Luna coins which I bet on Terrastation. this is not a solution but rather for them to leave their responsibilities as developers, in case the developer doesn't let LUNA drop near 0 and they can disable the chain when the attack starts.
A fork is not the solution, I've cut my losses by $14/coin and have some LUNA in my TerraStation wallet.
Yes, I also agree. hard fork will make many investors leave Luna. the team should be more responsible by providing the best solution instead of creating new tokens