Do Kwon shares LUNA burn tackle however warns ‘LUNAtics’ in opposition to utilizing it
The latest revival plan introduced by Do Kwon, the co-founder and CEO of Terraform Labs, acquired combined reactions as many questioned the effectiveness of a tough fork in reviving the fallen costs of Terra (LUNA) and TerraUSD (UST) tokens. As an alternative, the a part of the neighborhood advisable burning LUNA as essentially the most believable approach to obtain a comeback.
Kwon’s proposal to protect the Terra ecosystem entails exhausting forking the present Terra blockchain with out the algorithmic stablecoin and redistributing a brand new model of the LUNA tokens to buyers based mostly on a historic snapshot earlier than the demise spiral. Nonetheless, a number of crypto entrepreneurs, together with Changpeng “CZ” Zhao, opined that:
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