1/ Terra is more than $UST
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2/ It has been inspiring to partake in the dynamic discourse regarding the best next steps for Terra. Taking feedback from the community and thoughtful proposals, I would like to suggest the following for the path forward.
agora.terra.money/t/terra-ecosys
A thread on our reasoning:
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3/ Currently, these key precepts underpin most schools of thought:
- The #LUNAtic community is unparalleled in its passion
- The builder talent pool is broader and deeper on Terra than most ecosystems
- Terra’s blockchain is incredibly robust, as attested to by recent events
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4/ At the same time however, competing interests from varied stakeholders (e.g.,$LUNA holders, $UST holders, Terra builders, etc.) make it extremely difficult and unlikely to achieve consensus on a cohesive, congruent plan.
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5/ It would be devastating for broader crypto adoption and advancement if we remain in entropy amidst opposing views, and as such I propose the following to chart the path forward for our ecosystem.
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8/ We believe this token distribution, in addition to best efforts by LFG to make $UST holders whole, best solves for the varying interests and time preferences for each stakeholder group, and most important, creates the most viable path to revive the Terra ecosystem.
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9/ Terra 2.0 is focused on developers - developers will get an immediate emergency allocation of Luna tokens to fund runway, as well as a pool of tokens earmarked to align the interests of the base layer with its builders.
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10/ Call to action: we encourage Terra developers to signal support & commit to build on the fork on public channels ASAP.
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11/ TFL will be initiating a governance proposal for the network fork in the next few hours - if the proposal passes, then it will coordinate the fork with validators next Friday 05/27.
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12/ The Terra community is my family.
I will always be here, no matter how hard it gets.
Let's build it back up again - together.
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Replying to
What will be the amount of new luna tokens in the Airdrop? and will everyone get it? also how will you track the people who still holding them in exchange?
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We're coordinating with the major exchanges to have the airdrop supported.
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I have my $Luna tokens in my Trust Wallet. Do I have to transfer them to another wallet to receive this airdrop...?
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Residual UST holders only? What about people rekted the previous days by selling UST for a fraction of a dollar losing up to 90%?
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Why would you sell at 90 percent loss?
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