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Difference between revisions of "LUNA Collapse in May 2022"
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=== Terra Ecosystem Revival Plan 2 === | === Terra Ecosystem Revival Plan 2 === | ||
Do Kwon released a Twitter thread and governance proposal detailing the plans to fork Terra.<ref>https://twitter.com/stablekwon/status/1526258273820651520?s=21</ref><ref>https://agora.terra.money/t/terra-ecosystem-revival-plan-2/18498</ref> Under this new proposal, Terra would create a new chain and the previous chain would remain active under “Terra Classic.” | Do Kwon released a Twitter thread and governance proposal detailing the plans to fork Terra.<ref>https://twitter.com/stablekwon/status/1526258273820651520?s=21</ref><ref name=":1">https://agora.terra.money/t/terra-ecosystem-revival-plan-2/18498</ref> Under this new proposal, Terra would create a new chain and the previous chain would remain active under “Terra Classic.” | ||
UST would no longer be used and the chains would not have new algorithmic stablecoins. Terra Classic would have Luna Classic (LUNC) while the new chain would remain Terra (LUNA). | UST would no longer be used and the chains would not have new algorithmic stablecoins. Terra Classic would have Luna Classic (LUNC) while the new chain would remain Terra (LUNA). | ||
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* 10% - Luna holders (staking derivatives included) at the “Launch” snapshot - 10% unlocked at genesis, 90% vested over 2 years thereafter | * 10% - Luna holders (staking derivatives included) at the “Launch” snapshot - 10% unlocked at genesis, 90% vested over 2 years thereafter | ||
* 25% - UST holders at the “Launch” snapshot - 10% unlocked at genesis, rest vested over 2 years thereafter | * 25% - UST holders at the “Launch” snapshot - 10% unlocked at genesis, rest vested over 2 years thereafter | ||
</blockquote> | </blockquote>The network has a planned launch for May 27th.<ref name=":1" /> | ||
== Chainlink Oracle failure == | == Chainlink Oracle failure == | ||