{"id":61793,"date":"2022-05-20T18:11:11","date_gmt":"2022-05-20T15:11:11","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=61793"},"modified":"2025-09-05T14:14:08","modified_gmt":"2025-09-05T11:14:08","slug":"do-kwon-amends-terra-hard-fork-proposal","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/do-kwon-amends-terra-hard-fork-proposal\/","title":{"rendered":"Do Kwon amends Terra hard-fork proposal"},"content":{"rendered":"

Terraform Labs co-founder Do Kwon amended<\/a> his Terra blockchain hard-fork proposal. He said he revised several parameters of the new network’s token distribution \u201cin light of the community’s input.\u201d<\/p>\n

On May 16, initiated a vote<\/a> on the hard fork, calling it a \u201cchance to resurrect the project from the ashes.\u201d The plan envisages creating a new network with a LUNA token. The existing blockchain will be named Terra Classic with the Luna Classic (LUNC) cryptocurrency.<\/p>\n

The first change reduces the distribution of LUNA tokens among UST holders whose assets were deposited in the Anchor protocol when the algorithmic stablecoin lost its peg to the U.S. dollar. Kwon cut their share from 20% to 15%. The saved tokens will be sent to the community pool.<\/p>\n

Under the second adjustment, Kwon changed the vesting plan for participants in the \u201cPre-Attack\u201d and \u201cLaunch\u201d categories, and increased the share of tokens unlocked from the launch of the new network to 30%. The remaining 70% of LUNA will remain locked for a two-year period.<\/p>\n

The Terra community criticized Kwon’s decision to amend the proposal mid-vote.<\/p>\n

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What the hell? How can you make significant amendments to a proposal *mid-vote* when most people have already voted (for the original document)? A new proposal in Terra Station should be made with a fresh vote. This is not cool. (No comment on the changes \u2014 just the execution.) https:\/\/t.co\/SeFpc78Sab<\/a><\/p>\n

\u2014 FatMan (@FatManTerra) May 20, 2022<\/a><\/p><\/blockquote>\n