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Gate.io Blog：Can A Hard Fork Revive the Collapsed LUNA?
Gate.io Blog：Can A Hard Fork Revive the Collapsed LUNA?
2022-05-23 02:15:06 UTC
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【TL; DR】
1. On May 17, Do Kwon, founder of Terra, announced the "Terra Reconstruction Plan V2", which plans to make a hard fork of the Terra blockchain and build an ecosystem that does not include the UST stablecoin project.2. On May 18, Terra Builder Alliance submitted a governance proposal #1623. If the proposal is approved, the hard fork of the Terra blockchain will be carried out on May 27. Up till now, on online voting, the proposal has won 80.25% support.
3. Terra ecosystem, UST performance and LUNA price rarely stand or fall alone.
4. Even though the "Terra Reconstruction Plan V2" has initiated dispute from people of various circles, it has also given a ray of hope to major projects under the Terra ecosystem.
On May 17, Do Kwon, founder of Terra, announced the "Terra Reconstruction Plan V2", which plans to make a hard fork of Terra blockchain and build an ecosystem that does not include UST stablecoin project. The existing Terra blockchain and Luna token will be renamed Terra Classic and Luna Classic (LUNC), and the newly forked blockchain will use Terra and LUNA as signals instead.
Previously, on May 14, Do Kwon and others had put forward a proposal to fork out the Terra blockchain and redistribute LUNA tokens, which triggered extensive discussion in the Terra community and the entire crypto community. Supporters of the proposal believe that the fork proposal is expected to rebuild Terra's ecosystem on the verge of collapse in the crisis and compensate LUNA and UST holders who have suffered serious losses before, while opponents of the proposal believe that the fork is meaningless to save LUNA, and the new chain will be a worthless.
For more details, please refer to our blog post：Can A Hard Fork Revive the Collapsed LUNA?
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May 23
