Terra Community Rejects Kwon’s Idea Of a Hard Fork And a New Token Airdrop
Terraform Labs CEO Do Kwon recently proposed launching a new blockchain under the old name, thus creating a hard fork, and airdropping tokens for users.
According to Kwon’s plan, the new version of the blockchain will retain the old name and LUNA token, and the old version will be renamed Terra Classic with the Luna Classic (LUNC) token.
About this, there was a poll created on the forum. It turned out that the majority of the Terra community members are against the creation of a hard fork, despite the fact that Kwon and the development team consider this plan “a viable way to revive the Terra ecosystem.”
At the time of writing, 92% of the 5962 survey participants did not support the hard fork. Anyone can participate in the voting, regardless of the availability of LUNA governance tokens, and the official vote on the submitted proposal will take place on May 18.
The prices of the algorithmic stablecoin TerraUSD (UST) and the LUNA token began to fall on May 10, among other things, due to the outflow of assets from the Anchor protocol because of a rate decrease of return on deposits to 17.87%.
At the time of writing, LUNA is worth ~$0.00018 and the stablecoin is around $0.096, according to CoinGecko.