ICYMI: Do Kwon wants to fork the Terra blockchain as part of revival plan
, posted last week, which amounted to a restart of the Terra blockchain. That initial proposal would create one billion tokens to distribute among stakeholders to incentivize them to remain and rebuild.
"$UST peg failure is Terra’s DAO hack moment - a chance to rise up anew from the ashes," said Kwon in his post. This latest addition proposes to fork the Terra chain into a new"Terra" with token"Luna" while the old chain would become"Terra Classic" and the original Luna tokens would become"Luna Classic" . The new Luna would be airdropped to Luna Classic holders, stakers, Terra holders and app developers of Terra Classic. The intention is for the chain to be"community-owned" and target a 7% inflation rate through staking rewards.
The creation of one billion Luna is still part of the proposal. Kwon proposed that a quarter of those tokens would go to a community pool on the forked chain controlled by stake governance, 5% to developers, 35% to wallets that held Luna prior to the attack, 10% to Luna holders at the launch of the new chain, and 25% to UST holders on a vesting schedule.
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