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Terra founder Do Kwon, described an action plan to get out of the crisis

Terra founder Do Kwon, described an action plan to get out of the crisis

The Terra(Luna) development team is trying hard to get out of the current situation, at the moment there is already and action plan, published its CEO of Terra Lab Do Kwon.  The idea is to release a new hardfork, which will rollback the entire network, reduce the total number of tokens Luna to 1 billion, currently they are slightly less than 7 trillion, and conduct a redistribution between market participants.
The distribution would be as follows:  400 million will go to the balances of the wallets where they were stored before the UST detachment, that is, before May 9.
 400 million to UST holders, also before May 9.
100 million to holders who purchased already after the disruption.
 The remaining 100 million to put in the community pool for further development.
In his opinion, it will save the project and return it to stability, as well as compensate investors who have invested before the incident.  However, Changpeng Zhao, the founder and CEO of the Binance exchange, has a completely opposite opinion.
In his tweet Zhao said: In his opinion, the development team at the moment should buy up all the excess supply in the market from the reserve BTC and systematically burn them, earlier the team suspended the minting of new coins.
If we believe the rumors, that was also a recommendation from the head of Binance.   For now, the future of the project is under great doubt, and within the community investors divided into two camps: those who want to return everything to how it was before the attack, and those who demand to continue to develop the project, adhering to the recommendation Changpen Zhao.This material was written by a site visitor, and for it the reward is accrued.

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