Terra Amends Recent Proposal; Hard Fork Vote Continues -Breaking
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Terra Amends Recent Proposal; Hard Fork Vote Continues - It has announced that an amendment was published to Proposal1623.
- There are still 5 days to vote for the hard fork.
- The coin’s collapse resulted in the loss of over 40 billion in just a week.
Terra announced earlier today that it has published an amendment to Proposal 1623, incorporating the community’s feedback since its publication 2 days ago. The amendment contains 3 modifications.
Following TerraUSD’s (UST’s) crash, CEO Do Kwon put forth the governance proposal for community members to vote on the hard fork. According to reports, the new chain will eliminate the stablecoins that have crashed below $1.
First, the new revisions are to improve genesis liquidity. The twitter post reads: “For pre-attack $aUST holders, post-attack $LUNA holders, & post-attack $UST holders, the initial liquidity parameters have been modified from 15% to 30% to increase token supply at launch & mitigate future inflationary pressures.”
The second amendment…
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