Do Kwon Amends Terra Revival Proposal Amid On-Chain Vote 


Terraform Labs CEO Do Kwon changes his proposal to revive the Terra blockchain during a vote on whether it should be implemented.

Source: The Block

LUNA USD up +5.61%, UST USD down -11.85%

After the collapse of the TerraUSD (UST), Terraform Labs CEO Do Kwon recommended a rebirth that proposed the creation of Luna (LUNA) 2.0 tokens on a new blockchain.

He amended the proposal despite the original program being currently undergoing an on-chain vote.  Kwon indicated that he edited a few distribution elements to incorporate community feedback.

The first amendment lowers the distribution of LUNA 2.0 tokens to USD holders who have their token staked on Anchor when the depeg happened. Their distribution was lowered from 20% to 15%.

Another change altered the vesting program for two of the stakeholder groups that have been proposed to get a share of the new tokens. The CEO increased the initial token unlocks of allocations of LUNA 2.0 tokens from 15% to 30%.


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