ICYMI: $LUNA circulating supply has increased by 6.18 billion in a matter of days Terra LUNA
Do Kwon to"restart" Terra
Over the weekend, Do Kwon, the founder of Terraform Labs, proposed a"Terra Ecosystem Revival Plan" in a post on a Terra-related forum, which amounts to a restart of the whole Terra blockchain, with network ownership distributed fully to UST and LUNA holders via 1 billion new tokens. The CEO also acknowledged that the Terra ecosystem had completely collapsed.
Forty percent of the new tokens will be distributed to LUNA holders, who owned tokens before the de-pegging event, with another 40% allocated pro-rata to UST holders. The remaining 20% will be distributed to LUNA holders who held at the end of the chain's halt, and the community pool, which will be used to fund future development.With this approach, Kwon hopes to encourage existing members to stay on board after the project's failure.
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