The founders want to revive the network through blockchain ‘Fork’ – Money Times

The founders want to revive the network through blockchain ‘Fork’ – Money Times

The founders want to revive the network through blockchain ‘Fork’ – Money Times
In Do Kwon’s new proposal, the current network will be renamed “Terra Classic”. (Image: YouTube / Earth)

Founder of Earth (Moon) And CEO of Terraform Lab, Kwon doMade a formal proposal of this title.Earth Ecosystem Revival Plan 2”, To fork the Earth Network On the new blockchain.

Kwon presented a new proposal this Monday (16), in a post EarthAfter Network Cryptocurrency – The moon And stablecoin UST – Reached rock bottom last week.

A new proposal has been added to Terra’s initial reincarnation plan, published last week, which suggests resuming the blockchain.

This initial proposal will create one billion tokens, which will be distributed to the affected holders and existing token holders due to the collapse, to help them stay and rebuild the Terra network.

Failure of the ballast UST This is an important moment for DAO Earth – Opportunity to rise from the ashes, “Do Quan said in his post.

The CEO of Teraform Lab is known to have co-founded
Another failed stablecoin project

How will the new earth network work?

Do Kwon’s new plan proposes to add blockchain to the new network, which will be called “Earth“, With tokens The moonIt will be an old blockchain. “Classic Earth“, And the original Luna token.”Luna Classic”(LUNC).

New token The moon Will be delivered to holders Luna Classic, Stackers and Developers of Terra Classic. Blockchain aims to be “community oriented” and target rewards by targeting 7% inflation.

The creation of a billion lunas is still part of Do Kwon’s new proposal. Founder of Earth It is proposed that a quarter of these tokens be set aside for community pools on forked blockchain, regulated by stacking governance.

In addition, Kwon plans that 5% will go to new token developers, 35% to the wallets they own. The moon 10% for holders before compression The moon Upon launch of new blockchain, and 25% for stablecoin holders USTFollow the edit schedule.

Voting on this proposal will take place next Wednesday (18).

Founder of Earth Explaining on Twitter why he was rewarding this route for the network, he said that the pool of developer talent is “wider and deeper in Terra than most ecosystems” and “the Terra blockchain is incredibly strong, as evidenced by recent events”.

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