Do Kwon amends Terra 2.0 proposal during the vote on it (via vishal4c)
The first change reduces the distribution of LUNA 2.0 tokens to UST holders who has their tokens staked on Anchor when the depeg occurred. Their distribution share was reduced from 20% to 15%.
Second, Kwon altered the vesting schedule for two of the stakeholder categories that have been proposed to receive a share of the new tokens. Here, Kwon increased the initial token unlocks of allocations of LUNA 2.0 tokens from 15% to 30% — with the remaining 70% locked for a two-year vesting period.
It’s unusual for a proposal to be amended amid an on-chain vote. This is why today’s changes from Kwon have led some to question its validity. Usually, whenever there is a change made to a proposal, it's done beforehand and not during the vote. FatMan, an anonymous Terra analyst and commentator, highlighted the fact that a new proposal should come with a fresh vote.
“How can you make significant amendments to a proposal *mid-vote* when most people have already voted ?,” FatManKwon’s original proposal went to a validator vote on Wednesday. At the time of writing, a large majority of votes are in favor of it, with only 15% that are opposed to it with a veto. It's too early to say if the vote for Kwon’s proposal will pass given there are five more days to go. If the ‘no with veto’ percentage crosses the 33.
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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