Terra Amends Recent Proposal; Hard Fork Vote Continues
2022.05.20 17:16
Terra Amends Recent Proposal; Hard Fork Vote Continues
- Terra announced earlier today that it has published an amendment to Proposal 1623.
- The voting for the hard fork continues, and has 5 days left.
- The coin’s collapse resulted in the loss of over 40 billion in just a week.
Terra announced earlier today that it has published an amendment to Proposal 1623, incorporating the community’s feedback since its publication 2 days ago. There are 3 revisions included in the amendment.
Following TerraUSD’s (UST’s) crash, CEO Do Kwon put forth the governance proposal for community members to vote on the hard fork. Reportedly, the new chain would ditch the stablecoin that crashed below $1.
The first of these new revisions is increasing genesis liquidity. The twitter post reads: “For pre-attack $aUST holders, post-attack $LUNA holders, & post-attack $UST holders, the initial liquidity parameters have been modified from 15% to 30% to increase token supply at launch & mitigate future inflationary pressures.”
The second amendm …
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