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Difference between revisions of "LUNA Collapse in May 2022"
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→Aftermath: Terra blockchain resumes block production
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From May 9th to the 12th, LUNA supply has increased 35,000% as that is part of the mechanism to restore peg to UST.<ref>https://terrasco.pe/mainnet/luna/supply</ref> | From May 9th to the 12th, LUNA supply has increased 35,000% as that is part of the mechanism to restore peg to UST.<ref>https://terrasco.pe/mainnet/luna/supply</ref> | ||
Terra validators have decided to halt the Terra chain to prevent governance attacks following severe $LUNA inflation and a significantly reduced cost of attack. Terra blockchain was officially halted at a block height of 7603700<ref>https://twitter.com/terra_money/status/1524785058296778752</ref> | Terra validators have decided to halt the Terra chain to prevent governance attacks following severe $LUNA inflation and a significantly reduced cost of attack. Terra blockchain was officially halted at a block height of 7603700<ref>https://twitter.com/terra_money/status/1524785058296778752</ref> | ||
After patching the code and disabling validators, Terra blockchain resumed block production.<ref>https://twitter.com/terra_money/status/1524812171179327488</ref> | |||
== Investors and Promotors == | == Investors and Promotors == | ||