DO KWON HAS A NEW PLAN FOR TERRA LUNA!
He has come out with a brand new proposal, one that he thinks will save tara, luna and ust. So what is it exactly? Lets? Take a look Applause, Music. Most of you guys already caught this, but this morning i did stream about cz and his very very, very early response this morning about why binance decided to de list luna ust trading and shut down, withdrawals and shut down deposits. Basically, he said they are prioritizing user protection and the network was still down. He also declared that taras team just didnt know what they were doing, and that is why he has shut down tara. However, just three hours later, this was posted by nance will resume spot trading and they have enabled luna and usd pairs with busd just three hours later so people started speculating. Hmm, there must be something going on. Why would binance all of a sudden re list? Tara and ust for trading, then a little bit afterwards. We get some clarity, cz said was in a no phone meeting for two hours and the luna blockchain resumed, which means that the validators turned up again, but theyve decided to stop the minting. This is the reason why, this morning, when i was looking at circling supply, it was stuck at 6.5 trillion and it has not moved since then, so the validators basically decided were going to stop the minting process, so there are no more luna at this point. In time at least, that is being released and diluting the market, so, according to cz deposits, withdrawals trading resumed, this is important for existing holders, basically hes phrasing, that this gives traders or holders the opportunity to sell off and withdrawal.
If you need to extreme caution, extreme caution – and finally, we hear from do quan, who has been quiet on twitter for a past few days. He just posted this ecosystem revival plan basically telling the validators what he thinks is best and how this course action will revive tara bottom line. He wants the validators to start over using one billion tokens. The 6.5 trillion wipe that out go back to one billion tokens and distribute it. According to this, 40 40 will be distributed to luna holders before the d pack event happened. So this will probably be like three four days ago, because d pack happened slightly, so i dont know the exact day that they they theyre, going to choose if this plan gets implemented, so 40 will go to the previous holders. Next 40 goes to the ust holders. Many of you guys are still holding on ust, so basically up until the new network upgrade, they will see, who is still holding ust and give 40 distribute out that way so thats about 80. What about people that bought luna after a dpac event, theres still, people thats, still trading on binance right now and kucoin, while 10 percent will be given to everyone that that has been trading and supporting network um after the dpeg event, so only 10 and then finally, 10, going to the community pool to fund future developments; okay, so that is the breakdown 40 going to previous holders 40 going to ust holders 10 going to new holders and 10 going to community pool that is dokwans new plan.
So this is the new proposal and if you scroll down there are a lot of questions a lot of questions. For example, if you have your luna on the wormhole bridge, how are you gon na get distributed? What about the centralized exchanges? Are they gon na buy in on this, and are they gon na distribute according to how much youre holding on there? What about anchor and ust? What is going to be done about restoring faith in terror, restoring faith in dou kwan, restoring faith in this whole algorithmic, stable coin relationship with luna? There are a lot of things that are not discussed. This is basically starting over from scratch and distributing the tokens to you, know previous and new holders, but in terms of the whole ecosystem hows. This going look like afterwards that thats just unknown at this point and keep in mind that this new proposal from do quan is not set in stone. He is proposing this to all the validators who has been making a lot of decisions recently by themselves. For example, stopping new minting and also stopping staking – i mean theres a lot of things that validators are doing so will they follow dokwan? We dont know they might reject this, or they may take a variation of this and implement it at this point with with the support of tara. So we dont know what are your thoughts if this goes into play if this gets implemented or you go continue to support tara, or will this be a way for you to just basically get out forever leave your thoughts in the comments below thanks for watching smash? It a like subscribe to channel make sure you tune in tonight.
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