terra CEO Do Kwon recently LUNA and TOP announced the final rescue plan for
Today, the plan was submitted to the approval of the community.
The plan was to fork the existing Terra chain and airdrop the new token to previous Luna owners. According to the plan, most of the tokens will be distributed to the beneficiaries over a long period of time.
Latest Status in Voting
It’s been 2 hours since the voting started, and for now, 43 million Lunas were used in favor and 12 million against Luna.
188 million Lunas are needed for the vote to pass.
Kwon said that the proposal received support from various projects such as Nexus Protocol, Stader Labs and Flipside Crypto.
If the bid is successful, a snapshot will be taken at block 7790000 on May 27 and a new network will be born.
Although investors have expressed their opposition to the new plan on social media, Luna owners seem to be voting in favor for now.
Details of the Offer
The details of the offer were as follows:
“The Terra blockchain will fork into the new chain without the algorithmic stablecoin. The old chain will be named Terra Classic token LUNA Classic (LUNC), and the new chain will be named Terra token LUNA.
The new Luna will be airdropped to LUNC holders and UST holders.
According to the statement, a bid for the fork of the network will be launched on May 18 and coordination will be ensured for the fork to take place on May 27.”