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Terra (LUNA): Proposal #1623 receives criticism

 


Terraform Labs founder Do Kwon announced the start of voting on a possible hard fork of the Terra (LUNA) blockchain.


In a tweet on Wednesday, May 18, Do Kwon announced the start of voting on Proposal #1623 to rename the existing Terra Classic network to LUNA Classic (LUNC). At the same time, a new Terra blockchain with LUNA is to be launched.


The Terra Builder Alliance final proposal presents the vision for the new blockchain Terra 2.0:


"A superhuman effort by everyone involved made this joint proposal possible."


The votes for the Terra hard fork prevail

The official website shows the voting status in real time. It is noted that the proposal aims to create a new Terra blockchain without an algorithmic stablecoin.


“The old blockchain will be Terra Classic (with the token LUNC) and the new blockchain will be called Terra (with the token LUNA).”


At the same time, Do Kwon emphasizes that there should be a LUNA airdrop :


“For the Luna Classic stakers and investors, UST remainders and essential Terra Classic DApp developers.”


The TfL wallet should not be on the Airdrop whitelist. This will make the blockchain owned by the community.


At the time of publication, more than 79 million people have voted on the proposal, with over 71.5 million (90.34%) voting yes. On the other hand, the number of dissenting votes is almost 230,000 (0.29%) and the number of dissenting votes with veto is 7.4 million (9.37%).


The voting process will continue for a few more days, although at the pace recorded, we are likely to reach the required quorum within the next few hours.



What: Terra Station

In another tweet, Do Kwon pointed out that in case of a successful proposal, “a final snapshot of the Terra Classic network at block 7790000 (2022.05.27 03:59:51+08:00) will be taken and a new network will be born ”. The new network will be launched on May 27th.


Criticism on Twitter: Wrong votes reported?

Many users expressed their dissatisfaction with the development of the voting process and complained about the incredible speed of voting. @WolfofMongkok remarked :


“He tweeted. When voting began, 11 million people voted yes. After 8 minutes there were already 16 million votes for the proposal. This is manipulation, fake votes."


Similarly, @CSF1T criticized: "This vote is a disaster... Considering the fact that the community was against in yesterday's pre-vote. There's something fishy about this vote... @stablekwon doesn't care what the community wants. He'll arrange everything as it suits him."


Noted crypto influencer Peter McCormack also reacted strongly to Do Kwon's tweet, noting , "Learn when to leave."


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