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Do Kwon proposes Terra revival, including token redistribution plan -Breaking


Breaking: Do Kwon proposes Terra renewal, with token redistribution plans

Do Kwon, cofounder of Terraform Labs, has submitted a proposal for the preservation and restoration of the ecosystem after the depegging its algorithmic stablecoin, UST. This historic event led to Terra’s death spiral.LUNA(Tokens) to virtually zero

In a Friday post on Terra’s research forum, Kwon , “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 or unwilling to sell their holdings during this week’s price collapse.

LUNA’s price charts shows that crypto markets are constantly changing, with top-10 crypto projects trading only for a few pennies. Source: CoinMarketCap