Conversation

Do Kwon 🌕
@stablekwon
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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Do Kwon 🌕
@stablekwon
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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Do Kwon 🌕
@stablekwon
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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Do Kwon 🌕
@stablekwon
6/ The Terra chain as it currently exists should be forked into a new chain without algorithmic stablecoins called “Terra” (token Luna - $LUNA), and the old chain be called “Terra Classic” (token Luna Classic - $LUNC). Both chains will coexist.
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Do Kwon 🌕
@stablekwon
7/ New $LUNA will be airdropped to $LUNC stakers, holders, residual UST holders, and essential app developers. Also, TFL’s wallet will be removed from the airdrop, making Terra a fully community-owned chain.
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Do Kwon 🌕
@stablekwon
Replying to
@stablekwon
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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Do Kwon 🌕
@stablekwon
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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Do Kwon 🌕
@stablekwon
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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Do Kwon 🌕
@stablekwon
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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Vivian📈🇨🇦🏳️‍🌈(I don't DM)
@blockchainedbb
Replying to
@stablekwon
We appreciate that you are still here. But the plan isn't clear for those who staked UST in Anchor protocol. How are you planning to resurrect UST? You should come on youtube and address these investors for the sake of investors and the community to build back the trust.
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Vivian📈🇨🇦🏳️‍🌈(I don't DM)
@blockchainedbb
Also , As an average investor , how do we trust that this will never happen again ? Why do you think we should buy this? How are you gonna build that trust and grow the ecosystem ? The plan isnt clear , Mr. Kwon.
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tisy.dfi
@tisy94
I lost both, in LUNA and UST but I think the same. UST holders put in there savings. My LUNA was speculation like every other coin. I think every UST from the Snapshot before the depeg should made possible to exchange for USDT or USDC from the remaining money.
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Alan PIlz
@pilz_alan
Replying to
@stablekwon
Sorry this might seem like a dumb question… but are you proposing to airdrop a number of these new tokens to UST holders based on the balances of these holders at the time of the depeg based on a snapshot?
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Alan PIlz
@pilz_alan
After all many of us including me tried to preserve as much of our wealth built in this so called stable coin but have realized significant losses. I still hold 50% of my original UST balance, and sold the other at a significant loss.. circa 75%
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