Terra was dealt another blow after the LUNA and TerraUSD collapse. Terraform Labs’ legal department has resigned.
General counsel of Terraform Labs Marc Goldichbaschief corporate consultant Lawrence Floridachief litigation and regulatory advisor Noah Axler‘of Tuesday, May 17 LinkedIn profiles, which they updated on the day, revealed that all three of them stopped working after the events.
A source familiar with the matter told The Block that the company’s legal proceedings are being handled by an outside advisory team.
A spokesperson for the company said in a statement on the subject, “The past week has been very tough for the Terraform Labs team, and some team members have resigned during this challenging time. The vast majority of team members are determined to achieve the mission of the project. More than just UST, Terra has an incredibly passionate community with a clear vision of how to rebuild the ecosystem. Right now, our focus is on implementing our plan to get the Terra ecosystem back on track.” made statements.
Terra CEO, who published the recovery plan and shared the details after the events. Do Kwonif the network is forked, the name of the old chain Luna Classic (LUNC) suggested it be changed. However, upon the suggestion, it was created by users via Terra’s official forum. Terra’s CEO in the pop-up vote LUNAParticipants’ proposal to fork 90% of opposed.
Binance CEO Changpeng Zhao (CZ) Many people over and above support that forking the network is not a solution, but instead burning the existing LUNA.