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Terra community against a blockchain hard fork

 


With 92 percent dissenting votes, a clear majority of the Terra community is against Do Kwon's proposal.

The Terra co-founder put a rescue plan for the ecosystem to the vote on May 16.

The “ Revival Plan 2 ” envisages a hard fork of the blockchain.

Accordingly, a new blockchain should split off from the previous one.

The "old" chain will be called Terra Classic, the new chain will continue to be called Terra.

According to the revival plan, the new network architecture should focus on DeFi applications and separate from the failed stablecoin UST.

5,675 people have taken part in the vote so far.

Only eight percent voted in favor of Do Kwon's plan so far.

The vote is a non-binding test run.

The official governance vote doesn't start until today, May 18th.

However, approval seems unlikely.

Do Kwon has not yet presented an alternative plan.

After stablecoin UST lost its dollar peg last week, the Terra ecosystem collapsed in on itself.

The LUNA token is now only worth fractions of a cent.

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