The CEO of Terraform Labs is attempting to re-register LUNA 2.0 during a police investigation after the Terra/Luna collapse that saw the TerraUSD stablecoin lose peg and investors lose millions of dollars.
CEO Kwon Do Terra contacted 5 domestic cryptocurrency exchanges. report And despite the Terra-Luna coin being banned on several cryptocurrency exchanges, the CEO is attempting a revival that will see the Terra ecosystem rise from the ashes.
In a message from the Terra Research Forum, Kwon Do explained the proposal to restart the Terra ecosystem and how to distribute new coins to investors who have experienced losses.
“The holders of Luna will be so heavily liquidated and diluted that there will be insufficient ecosystems to back up from the ashes.”
“A decentralized economy requires decentralized money, but Terra has lost too much trust in its users to play a role.”
Dokwon proposed the resurrection of Terra in the form of a hard fork, resetting the distribution of Luna tokens to 1 billion and redistributing 40 million to holders before Terra is unpinned, and 40 million will go to investors holding Terra. Hard fork upgrade. 10 million will go to Luna holders when the blockchain goes down on May 25th, and the remaining 10 million will be used for future development.
Despite the ups and downs of the CEO and the community, Mr. Kwon proposed the hard fork method on May 14, and later modified it by Terraform Labs, and decided to build a completely new Terra blockchain and leave the existing network as it is. Managed by you.
On May 25, local media reported that the province had reached out to five cryptocurrency exchanges that support KRW trading and requested the listing of the new Luna 2.0. Once you go live
Dowoo Kwon’s vote summarizing the ‘rebirth of the Terra network’, which aims to solve the design flaws of the Terra ecosystem.
“Let’s name the current Terra blockchain network ‘Tera Classic’ and the existing Luna as ‘Luna Classic’ and create a new Terra blockchain network.”
Disclaimer: This article is provided for informational purposes only. It is not given or used as legal, tax, investment, financial or other advice.