Early polling from Terra vote indicates 91% are in favor of 'rebirth'
Despite the overwhelming approval of the proposal as of Wednesday, many Terra users on social media suggested the network burn its LUNA tokens. Terraform Labs CEO Do Kwon’s plan to create a new blockchain “without the algorithmic stablecoin” TerraUSD (UST) has the support of 85 million community votes.In a proposal opened to the Terra (LUNA) community on Wednesday, more than 91% of votes at the time of publication were in favor of “rebirthing” the Terra network — roughly 85 million out of 93 million, with up to 284 million votes yet to be cast. The proposal needs roughly 188 million votes....
Related News
Some of the world's biggest banks are increasing their exposure to the digital asset market despite the recent market volatility. Is this a sign of things to come? Has there ever been a worse time to be in crypto? It depends on how you look at it. Amid Terra’s death spiral, Bitcoin (BTC) recording seven-consecutive weekly red candles, over $1 trillion in lost market cap across the ecosystem and an aggressive Federal Reserve hell-bent on reversing the chaos it created, major banks are quietly increasing their exposure to the sector. You’re going to love this: Goldman Sachs — once the most....
There are signs a majority of the Bitcoin universe’s opinion is shifting in favor of larger transaction blocks, after an overwhelming poll vote. The issues, and Bitcoiners’ reaction to them, were recorded on blockchain opinion polling site Bitcoinocracy. The site allows bitcoin holders to vote on any issue posted by users, signing statements with their....
The operator of a major validator node on Terra is displeased with how events unfolded leading to the cessation of the chain, and hopes a whole new blockchain will be created to replace it. As the dust settles from the Terra ecosystem crash, and the community decides what the next steps should be, the CEO of a validator runner in South Korea thinks the old Terra chain should be shut down permanently.Jiyun Kim, CEO of blockchain solutions company DSRV, wrote an opinion post on his own behalf, detailing how the Terra team tip-toed around the idea of halting block production while LUNA prices....
Terra 2.0 launced with the promise of helping to retrieve lost funds, but early indicators suggest launching a new token to compensate for the failure of another is a bad idea. Terra remained the focus of the majority of headlines throughout May for its spiral collapse leading to a loss of over $40 billion in investors’ money. Despite some early resistance from the community and heavy backlash from the likes of Binance CEO Changpeng “CZ” Zhao, Terra co-founder Do Kwon managed to relaunch the collapsed network with a new chain called Terra 2.0 (Phoenix-1).The amended proposal for the....
There's been talk in the media of the Federal Election Commission potentially allowing Bitcoin donations to political campaigns. Not terribly long ago (earlier this month, in fact), we even reported on the topic. It looks like the decision to give the proposal the green light has been delayed, according to a Reddit submission on Thursday. The vote reportedly concluded with 3 in favor of allowing Bitcoin contributions, and of course, 3 not in favor. The commission at this point is apparently uncomfortable with their present understanding of Bitcoin, but will likely vote in favor and pass....