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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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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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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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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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