Reading time: ~2 m
Terraform Labs CEO Do Kwon posted an update on his proposal to revive Terra and LUNA at 4:55 p.m. Hong Kong time, which made no mention of the plan being put to a vote.
Kwon’s modified “Terra 2 Ecosystem Revival Plan” no longer includes the word “fork,” but still proposes the creation of a new network called Terra (LUNA), while the existing network and token will be called Terra Classic and LUNA Classic (LUNC).
In addition, there is a proposal to abandon the algorithmicity of the stablecoin. The original proposal, published on Tuesday, called for a vote on the network’s hard fork on May 18.
A preliminary poll of about 6,000 votes found that 92% of voters rejected Kwon’s offer, with community members calling for luna to be burned soon to cut the offer.
The distribution details of Terra LUNA’s “Classic” and UST tokens have also been adjusted. The network proposed by Do Kwon is due to launch on May 27.
#terra #restoration #proposal #includes #fork
