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Difference between revisions of "LUNA Collapse in May 2022"
→Initial depeg: do Kwon Terra update
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On May 16th, the Luna Foundation Guard released a Twitter thread detailing how they sold over $3b in assets to defend the UST peg.<ref>https://twitter.com/lfg_org/status/1526126703046582272?s=21</ref> | On May 16th, the Luna Foundation Guard released a Twitter thread detailing how they sold over $3b in assets to defend the UST peg.<ref>https://twitter.com/lfg_org/status/1526126703046582272?s=21</ref> | ||
Terra and 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.” | |||
The efforts are ongoing. | The efforts are ongoing. | ||