Do Kwon proposes Terra revival, including token redistribution plan By Cointelegraph


Breaking: Do Kwon proposes Terra revival, together with token redistribution plan

Terraform Labs co-founder Do Kwon has tabled a proposal to protect the ecosystem following the historic depegging of its algorithmic stablecoin, UST, and the ensuing dying spiral that plunged Terra (LUNA) tokens to virtually zero.

In a Friday submit on Terra’s analysis discussion board, Kwon mentioned, “The Terra group should reconstitute the chain to protect the group and the developer ecosystem.” His proposal, which was in response to validator teams discussing the potential for forking the Terra chain, entails compensating UST and LUNA holders who have been unable or unwilling to promote their holdings throughout this week’s worth collapse.

From top-10 crypto to buying and selling for lower than a fraction of a penny, LUNA’s worth chart affords a startling reminder of how shortly crypto markets can change. Supply: CoinMarketCap