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Terra LUNA Classic Has No Future, Say Terraform Labs Insiders -Breaking

by Mike Robinson

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Terra LUNA® Classic has No Future. Terraform Labs Insiders Say
  • Verified LUNC validateators provided insight into the war rooms conversations prior to the launch 2.0.
  • LUNC, LUNA and LUNA are traded at $0.00008555 & $5.39 respectively.
  • Do Kwon wasn’t involved at all in the War Room that was established before the launch the Terra chain.

Interview series: A group of insiders revealed Do Kwon was the CEO of Terraform Labs, (TFL) and not in the war room that was established before Terra 2.0.

These were the verified LUNA validators involved in the launch of TFL’s new chain.

The chat logs show that validators ThorchainMaximalist, PFC and PFC both acknowledged significant problems in the handling of the Terra crisis. The meltdown saw them lose the majority of their net worth.

They also stated that they have abandoned on-chain governance because people bought billions of Terra LUNA Classics (LUNC) during the final hours of the crash. On-chain governance would be left in the hands the people with the most LUNC tokens.

The validators expressed a negative outlook on the token when they were asked about the future prospects of LUNC. One of them said, “

I don’t think it has much future. It is actively validated on classic, and will do so until it ceases to have traffic. It is still being used by people who get value out of it..

Changpeng Zhao (CEO of Binance) tweeted that Binance Labs invested $3 million in Terra last year and received 15,000,000 LUNA tokens as a reward. Binance did not make any profits from this position and lost their invested capital. The CEO also known as “CZ” argued that the investment was worth $1.6 billion at its peak.

According to CoinMarketCap, Terra LUNA Classic LUNC (LUNC), and LUNA 2.0 are trading at $5.39 and $0.00008555, respectively as of the writing.

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