Do Kwon shares LUNA burn address but warns ‘LUNAtics’ against using it
Cointelegraph
Published May 23, 2022 04:34AM ET
Updated May 23, 2022 08:20PM ET
The recent Terra revival plan announced by Do Kwon, the co-founder and CEO of Terraform Labs, received mixed reactions as many questioned the effectiveness of a hard fork in reviving the fallen prices of Terra (LUNA) and TerraUSD (UST) tokens. Instead, the part of the community recommended burning LUNA as the most plausible way to achieve a comeback.
Kwon’s proposal to preserve the Terra ecosystem involves hard forking the existing Terra blockchain without the algorithmic stablecoin and redistributing a new version of the LUNA tokens to investors based on a historical snapshot before the death spiral. However, several crypto entrepreneurs, including Changpeng “CZ” Zhao, opined that:
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Written By: Cointelegraph
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