The plan is to fork the network into a new blockchain that does not include an algorithmic stablecoin, and airdrop tokens to Terra participants.
Terra Community Plans to Vote on Forking the Chain — Launch May Airdrop a Billion New Tokens to Network Participants
published a revival plan that aims to fix the project’s problems, and the proposal will be voted on Wednesday, May 18.” aims to fork the blockchain into a new chain that doesn’t involve adding an algorithmic stablecoin. The old chain will be called “token Luna Classic or LUNC” and the new chain will inherit the original branding by being called “Terra LUNA.” Following the split, the new tokens will be airdropped to Luna Classic holders, stakers, application developers, and residual UST holders.
25% will be dispersed to the community pool for staked governance and 1% will be allocated to essential developers with no lockup period. 4% will be dispersed to essential developers after a one-year cliff and four-year vesting period. 35% will go to all bonded and unbonded LUNA stakers except for TFL. Wallets with one million LUNA or less will have different vesting periods. 10% will go to LUNA holders and 25% will go to UST holders.
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