Last Update of Terra Luna Coin
Just when you thought terror was dead. there comes dog one after being quiet for several days, he has come out with a brand new proposal. One that he thinks will save terra Luna and u s t, so what is it exactly. Let’s take a look. most of you guys already caught this. But this morning I did stream about cici and his very. very, very early response this morning about why finance decided to delist Luna u s t trading and shutdown withdrawals and shut down deposits. basically, he said they’re prioritizing user protection and the network was still down. He also declared that terrors team just didn’t know what they were doing, and that is why he has shut down terror. however, just three hours later, this was posted, finance will resume spot trading, and they have enabled Luna and u s d pairs with b u s d just three hours later, So people started speculating. There must be something going on. Why would finance all of a sudden. Tara and u s t for trading then. a little bit afterwards, we get some clarity, c z said was in a no phone meeting for two hours. And the lunar blockchain resume, which means that the validators turned up again, but they’ve decided to stop the minting. This is the reason why this morning. When I was looking at circumstances apply, it was stuck at six point five trillion and it has not moved since then, so the validators basically decided we’re going to stop the maintain process, so there no more Luna at this point in time, at least that. released and diluting the market. So according to easy deposits, withdrawals trading resumed. this is important for existing holders. basically, he’s phrasing that this gives traders or holders the opportunity to sell off and withdraw if you need to extreme caution. extreme caution, and finally, we hear from dog one who has been quiet on twitter for the past few days, he just posted this ecosystem revival plan. Basically telling the validators what he thinks is best and how this course action will revive terror bottom line. he wants the validators to start over using one billion tokens. the six point five trillion wiped out go back to one billion tokens and distribute it according to this forty percent forty percent will be distributed to Luna holders before the deep pack event happened. So this will probably like three four days ago because deepak happened slightly, so I don’t. the exact day that they choose, they they’re going to choose if this plan gets implemented, so forty percent will go to the previous holders. next, forty percent goes to the u s t holders. many of you guys are still holding on u s t, so basically up until the new network upgrade. They will see who is still holding u s t and give forty percent distribute out that way, so that’s about eighty percent. What about people that bought Luna after the Pakistan, there are still people that’s still trading on finance right now in cool coin, well. ten percent will be given into everyone that that has been trading and supporting that work after the de-pack event, so only ten percent and then finally ten percent going to the community pool to fund future developments. okay, so that is the breakdown, forty percent going to previous holders, forty percent going to. u s t holders ten percent going to new holders and ten percent going to community pool. That is, Doug Kwan’s new plan, so this is a new proposal, and if you scroll down, there are a lot of questions, a lot of questions. for example, if you have your Luna on the warm hole bridge, how do you go get distributed, what about the centralized changes are they go by in on this? and are they go distribute according to how much you’re holding on there, what about anchor and u s t, what is going to be done about restoring faith in terror. Restoring faith and go quant, restoring faith in this whole algorithmic stable coin relationship with Luna, there are a lot of things that are not discussed. This is basically starting over from scratch and distributing the tokens to you know, previous new holders, but in terms of the whole. How does this go look like afterwards that that’s just unknown at this point and keep in mind that this new proposal from doe Kwan is not set in stone. he is proposing this to all the validators who has been making a lot of decisions recently by themselves. For example, stopping new minting and also stopping stacking, I mean. there’s a lot of things that a validators are doing, so will they follow dog one, we don’t know. They might reject this or they may take a variation of this and implement it at this point with. with the support of terror, so we don’t know what are your thoughts if this goes into play, if this gets implemented, are you go continue to support terror, or will this be a way for you to just basic, get out forever. leave your thoughts in the comments below.
