Terra Founder Do Kwon Announces Free Airdrop To LUNA Owners!

Terra’s founder Do Kwon, upcoming LUNA He said they are in the process of collecting data from major exchanges for its airdrop.

Kwon explained that the process took “some time” due to the large amount of data to be collected.

The current voting shows that the majority of LUNA owners are in favor of Terra launching a hard fork and creating a new Blockchain.

According to the current results, 61.7% of 230.9 million votes were cast in favor of the hard fork. Voting will end on May 25.

How Will Terra Airdrop Be?

According to the hard fork proposal, the community pool of LUNA owners will receive 30% of the new LUNA supply. 35% of the tokens will be distributed to those who bought before the collapse, and 10% of the tokens after the collapse.

Located in Anchor before the collapse TOP holders will receive 10% of the supply, while those who are included in the system after the collapse will receive a share of 15%.

The new chain will completely disable the UST stablecoin. Given that the failure of the IHR led to its collapse, most community participants supported this measure.

Additionally, the hard fork proposal will leave Terraform Labs completely out of the new Blockchain, making Terra V2 fully community owned.

An old interview by Do Kwon suggests that this aspect of the Terra rescue plan could be part of a premeditated “kill switch” protocol.

Other Blockchains Are Skeptical About New LUNA Proposal

But while Terra’s validators and the community appear to have accepted the proposal, other blockchains that Terra was once connected to have expressed skepticism about its future.

Stablecoin exchange Curve recently decided to withdraw its support for UST completely. The Curve community also opposed supporting the new Terra version.

*Not investment advice.

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