Your founder will compensate the owners of Luna and UST; but how?



Just a few hours ago, Do Cowan published an article on the official website of the Terra blockchain, offering compensation for damages to the owners of Luna, UST, as well as active developers of the network. With the consent of the Luna community, a fork of the Terra network will be launched, in which one billion new tokens will be distributed among users affected by recent events.

Earlier in the day, Kuan, co-founder of the ChinaTra bloc, said that some members of the ChinaTra community, as well as network credentials, had suggested launching a new plug of the ChinaTra bloc to be used to damage the entire compensated ecosystem. .

Kwan wrote in his new article:

There are currently billions of UST on the market and the value of the Luna token has dropped to zero. Even if UST values ​​were restored after the last batch of traders hesitated and eventually surrendered, Luna Holders still lost so much capital that it was no longer an ecosystem for leftover ash. [از این اتفاق] We don `t have. The decentralized economy requires decentralized money, but the UST has lost consumer confidence to play that role.

Cowan says StableCoin UST was the main reason for Tera’s network growth last year, but now Tera’s ecosystem and community are more important to them and they need to support it.

The rest of this article is quoted directly from Do Quan and his plans to compensate the owners and your community as a whole are as follows.

Your founder’s program to compensate holders

Your community needs to rebuild this network to retain its current members as well as its developers.

Creditors must distribute ownership of one billion units of the new network tokens as follows:

  • 400 million units (40%) belong to those Luna holders who held the Luna before the UST fell below one dollar (a reasonable measure at the time of this incident may be the last time the UST was priced at $ 1 on the Bainance exchange). Holders of “bLuna”, “LunaX” tokens and those Luna tokens that have been stored in smart contracts are also included in this token distribution scheme; Except for the address “terra1dp0taj85ruc299rkdvzp4z5pfg6z6swaed74e6”, which belongs to the Terraform Labs collection itself. The main owner of the new network should be your community. It is important for us that the people who believe in you and its most powerful builders take over this network.
  • 400 million units (40%), i.e. the same amount shall be distributed to UST holders when updating the new network. The losses of the holders of this stable coin must be compensated as much as possible.
  • 100 million units (10%) is distributed among those users who held Luna Hold at the last moment of stopping the blockchain.
  • 100 million units (10%) The rest will be deposited in a new basin and spent on ecosystem development.
  • The status of all these tokens, including the 100 million units in the third section under discussion, must remain stable in accordance with the conditions for the formation of the first network block.
  • The new network must strengthen its security by using a reasonable inflation rate, for example 7%; Because network charges will no longer be enough to provide the network alone, without taking into account interchange fees.

The founder of Terra Network, whose decisions are currently under consideration, concluded in the last part of his announcement that distributing tokens and compensating Luna and UST holders is a move to protect consumers and the community of this digital currency and stand by them forever. will be.

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