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
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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Do Kwon 🌕
@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
Replying to
@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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StocksCryptos
@StocksCryptos8
Replying to
@stablekwon
Just do a huge burn and let's move on. People are going to invest like crazy if you do a huge burn. This is a great way to start over. You will have their trust and they are going to stay by your side no matter what. Pls, consider doing a burn. The community wants this.
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Show replies
be a humming bird
@IAM07
Replying to
@stablekwon
Why does this plan punish those who bought after the attack? They helped keep the price stable and we’re buying while others were running. The punishment should be to those that built the flimsy system that made this possible. Doing it this way is basically “play money” thinking
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