Urgent: Terra Community Must File Crypto Loss Claims For Voting Rights Now
The United States Bankruptcy Court for the District of Delaware has announced that stakeholders of Terraform Labs Pte. Ltd. (TFL) and Terraform Labs Limited (TLL) are required to submit their preliminary Crypto Loss Proofs of Claim by August 21, 2024, at 5:00 pm (ET). This filing is crucial for those intending to vote on the […]
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The Terra community has initiated crucial proposals that could revive the cryptocurrency by bringing new changes to the Terra Classic ecosystem. With the voting process still ongoing and community feedback highlighting a potentially positive outcome, the price of LUNC, the native token of Terra Classic, has seen a major uptick. Terra Community Set To Pass […]
The Terra Classic LUNC has been putting more effort into resuscitation its new position in the crypto space. Unfortunately, the algorithmic stablecoin Terra and LUNA collapse in May caused a massive loss in the industry. The crisis intensified the crypto winter of the year, leading to the loss of billions of dollars. However, the new Terra ecosystem is gradually building against its previous loss. One of its distinctive approaches is the protocol’s burning mechanism. This action brought about the 1.2% tax burn for on-chain LUNC transactions, as proposed by one of the Terra community....
The proposal highlighted that the burn may help restore the UST dollar peg by burning the excess supply. In another attempt to support the revival of Terra (LUNA), the community voted to burn a large amount of UST from its community pool. Earlier in May, Terra founder Do Kwon explained that a potential solution to the Terra debacle is to absorb the stablecoin supply. In response to this, users proposed the burning of the 1 billion TerraUSD (UST) that was stored in Terra’s community pool and the remaining cross-chain UST that’s deployed on the Ethereum blockchain as incentives. According to....
Do Kwon, now a fugitive wanted by South Korean prosecutors and the Interpol, has a new fire to put out as more than 300 investors from Singapore decided to file a class action lawsuit against the Terra Labs co-founder. The 357 capitalists from the Asian nation had no choice but to bring the fight to […]