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Do Kwon Offers Terra Luna Final Revival Plan

  • The Terra engineers proposed a creative idea to resurrect the once-powerful network this week, even though the platform's co-founder, Do Kwon, is wanted for fraud.

  • The "Terra Expedition" plan is an enhanced version of the developer alignment and mining programmes that were put into place at the time when the Terra network was made available to users for the first time.

  • By enticing developers, enrolling users, and fostering deep liquidity, this reworked method hopes to better match incentives across the ecosystem.

04-Nov-2022 By: Ashish Sarswat
Do Kwon Offers Terra

Do Kwon, the founder of Terra, rejects LUNA's ongoing 

Expedition Proposal and offers a remedy to restore the once-vibrant Terra ecology.

Though Do Kwon, the disputed platform's co-founder, is wanted for arrest on fraud-related charges, Terra developers this week presented a novel notion in a bid to revive the once-powerful network.

The "Terra Expedition" plan is an updated version of the developer alignment and mining programmes that were put in place when the Terra network first went live.

This revised strategy aims to better align incentives across the ecosystem by luring developers, enrolling users, and encouraging deep liquidity.

How Do Kwon Views The Proposal

Do Kwon, the man himself, responded to the continuing governance issue today and declared the plan to be pointless. He urged the populace to either think of a better option or to do nothing at all.

Hello there, Do. I think the expedition idea is a poor use of the community pool, and I want the neighbourhood to think about different options (including doing nothing).

In a lengthy essay, he offered numerous arguments, one of which being trust since developers could be hesitant to build on Terra unless there is a compelling reason to do so. He offered several suggestions on how to use the community pool in addition to categorically outlining the reasons why he believed the proposal wouldn't work.

Interchain Alliances, Project Feather, and Interchain Station & Finder were his three main areas of attention. He said, I believe that by addressing security/tooling entry costs as well as user fragmentation, it will be more appealing to launch blockchains than to establish smart contracts for a variety of use cases.

FINALLY, PROJECT FEATHER IS DISCLOSED

The most crucial detail to take up from his post was Project Feather, which Do has been alluding to for some time. The project aims to make starting blockchains as simple as releasing a feather due to the reality that it still takes a lot of effort and money to launch and L1. Feather wants to make the process as simple as establishing a smart contract.

According to the initial idea, 9.5% of the overall LUNA supply should be divided based on TVL, but given the Terra ecosystem's current status, this would mostly benefit a small number of protocols rather than the entire Terra ecology, which would be stimulated. The proposal must be supported by a majority of the LUNA tokens in order to pass.

Recent Updates on Do Kwon

do kwon , the contentious co-founder of Terra, is wanted on numerous counts of fraud. In fact, his investors recently filed a $57 million lawsuit against him. Since last month, authorities have been looking for Kwon, but he has denied running away. CoinGabbar previously claimed that Korean prosecutors were able to locate him at this specific place.


Do you think this plan will fully revive the Terra LUNA network?  I would love to hear your views, write it down in comment section below.....

WHAT'S YOUR OPINION?
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