CEO Of Terra Tries to Save the Day
After the massive crash of the UST stablecoin and the LUNA token, many users lost a huge amount of funds. The project’s CEO Do Kwan issued a public statement that the project team plans to recreate the network in order to preserve the ecosystem.
How is Kwon going to save the situation? He talks about restarting the network with the distribution of tokens among users. In total, they plan to distribute 1 billion tokens.
Of this amount, 40% will be received by LUNA holders at the time of depegging from the dollar, another 40% – by UST holders at the time of network shutdown, 10% – by LUNA holders at the time of network shutdown, and the rest will go to the project development fund.