It is stated that Terraform Labs submitted the recovery plan for the fixation of the UST as a proposal and received approval.
Terra USD (UST) downward pressure extra originating from UST and this is the problem prevent solving stated.
To solve this problem, the company plans to burn the USTs.
Presenting these plans to its validators as an offer, Terraform has so far 50.47% yes reported to have received the vote.
exceeding 50% In order for the proposal that has been approved to come into effect, 6 more days left. Terraform Labs tweeted on May 12, “The process will speed up once the core pool proposal starts working.” said.
The company was first found in the community pool. of 1 billion UST ($460 million) when planning its burning, on the ethereum blockchain 371 million UST He said he would be burned. of the total UST resource 11% is Terraform Labs will be burned by
Additionally, the company plans to stake 240 million LUNAs. Thinking that the network can be protected from future attacks in this way, the company thinks that due to the low price, the network can be easily interfered with, and this possibility can be reduced by staking.
In the last 24 hour period 98% depreciation at LUNA 76 million dollar liquidation took place. Sharing, which is a large DeFi project and has been constantly buying bitcoin in the past days, Terra’s market capitalization fell from $40 billion to $300 million.