Terra(LUNA) has a recovery plan based on community input.

After the fall, Terra slipped down to the 20th spot according to TVL from third place held. According to data, Terra has lost about 99 percent of its $ 30 billion TVL and currently has only about $ 300 million left.

After the fall, Terra slipped down to the 20th spot according to TVL from third place held. According to data, Terra has lost about 99 percent of its $ 30 billion TVL and currently has only about $ 300 million left.
Terra(LUNA) has a recovery plan based on community input. 99cryptox

The past few weeks have been a turbulent time for the crypto market as Terra lost its pin and the ecosystem collapsed for days. The traditional Terra TUN LUNA token was cut, and the price reached almost $ 0. The impact of pegging removal was felt beyond Terra, as the entire market lost almost $ 100 million of its TVL and made drastic changes to market standards.


After the fall, Terra slipped down to the 20th spot according to TVL from third place held. According to data, Terra has lost about 99 percent of its $ 30 billion TVL and currently has only about $ 300 million left.


The Terra team is back to normal with its new ecosystem renewal plans. According to a post shared by Do Kwon, CEO of TerraForm Labs, the renewal plans include the launch of a new network to accommodate a community of investors, developers, and builders from the current network.


Following the launch of the new Terra series, the current network will be renamed Terra Classic with LUNA tokens. Once online, the network will issue new LUNA tokens between LUNA, stakes, LUNA owners, UST owners, and developers in the new chain.


According to the initial renewal plan, the network would distribute 1 billion new LUNA tokens between users who invested in LUNA and UST before and during the release. Therefore, the network was supposed to provide 40�ch to LUNA pre-collater owners and UST pro-rata managers during the suspension of the series. The remaining 20% ​​of the supply is equally divided between LUNA owners who provided stability during the autumn and the community dam.


However, the team amended the original principles of the plan based on the feedback received from the Terra community. The new token distribution system has increased the public share from 10% to 30%. Half of these tokens will be placed on the stake, and about 10% will be given to engineers for their contribution.


LUNA executives from before the attack will receive approximately 35% of the supply. Funds with less than 10k LUNA will receive 30% at the time of launch, and the remaining 70% will be resolved within two years with a 6-month fall. Time to purchase wallets with LUNA up to 1 million 2 years with 1 year wallet. For those with more than a million LUNA, the offer may take 4 years and one year.


Aust owners before the chain suspension will receive 10% of the supply, and it comes with a 500k whale cap. After the attack, LUNA and UST will receive 10% and 15% of the offer. All of these funds will be rewarded with 30% of their genealogy, and 70% will be given 2 years per 6 months.


The framework is designed to support smallholder farmers accounting for 99.81% of LUNA funds. However, this impressive number represents only 6.45% of the total LUNA offer. According to Do Kwon, the framework was designed to preserve the ecosystem and the community, which is essential for Terra’s future growth.


Another important aspect of this revitalization program is the transfer of ownership of Terraform Labs back to the public. The public will be allowed to form their own steering committee through a number of agreements. According to a shared report after completing several steps, the new series is likely to go live on May 27th.


The Terra revitalization program is being developed by the community and a team of developers in mind. Although there has been a lot of corruption in the network image, we can be sure that it has the necessary tools to recover from it. In addition, the network seeks to restore trust by fully engaging the community in its development activities.

Leave a Reply

Your email address will not be published.