Updated Token Distribution Details on Terra: Privileges to Post-Attack Domains

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Terra CEO Do Kwon presented the second of his redemption plan to the community, proposing the new fork, as 90% of the initially voting community did not want it, but Terra edited and resubmitted the proposal to the community.

Currently on offer 182 million LUNA voted and 80% positive used the game in the direction. Terra’s offer is valid, in order to be valid, in total 188 million yes votes needed and now about 147 million yes has a vote.

Terra announced on Twitter on May 20 that the final offer was updated and said token distribution details have changed. Buyback requested by part of the community (buy-back) and for incineration No statement has yet been received.

With the newly created chain, the existing Terra network will be copied and a new network will be created. The name of the old network will be changed to Terra Classic, and the name of the new network will be Terra. Name of old network’s local token Luna Classic (LUNC) will be named as the local token of the new network. LUNA will be named.

Token distribution (Current)

The new Luna token with a supply of 1 billion units:

  • 20% will be available in the community pool.
  • 10% will be reserved for developers.
  • 35% of LUNA before attack for holders (including stakes). from 10k LUNA small wallets initially 30% of the rest 70% of if It will be distributed over a 2-year period.. Wallets with tokens between 10 thousand LUNA and 1 million LUNA will be distributed within 2 years after a 1-year waiting period. It will be distributed within 4 years after 1 year to wallets holding more than 1 million LUNA.
  • 10% of UST drops below $1 On the chain image to be taken before (7 May 2022): It will be distributed within 2 years, primarily 30%.
  • 10% of to LUNA owners after the attack 30% will be distributed initially and 70% within 2 years (including stake).
  • if 15% to UST holders after the attack 30% will be distributed initially and 70% will be distributed within 2 years.

If this proposed proposal passes the vote and takes effect, the new chain will start operating on May 27, 2022.

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