Blockworks - In Wake of Stablecoin UST’s Implosion, New LUNA Launch Imminent

in #blockchain • 2 years ago

https://blockworks.co/new-luna-launch-unveiled/
Screenshot_20220526-152551_Brave.jpg

Finally, the "rebirth" proposal to create a new Terra chain without the algorithmic stablecoin that imploded UST, was supported by the majority of LUNA shareholders after a week of voting.

Stakeholders, LUNA holders, UST holders (including exchange tokens), and Terra developers are going to receive new LUNA.

With the exception of Teraform Labs (TFL), Luna Foundation Guard (LFG) and Community Pool will not get the airdrop, because rebirth's goal is to launch a "fully community-owned" chain.

Beware of algorithmic stablecoins, they may implode too just like UST!!

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#horror #dump #ust #luna #terra #stablecoin #rebirth
2 years ago in #blockchain by
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