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Do Kwon updates on the “Terra 2.0” implementation proposal

After about 2 days of silence, CEO Terra Do Kwon recently made a new proposal for the implementation of “Terra 2.0”.

The plan to restore the Terra ecosystem was updated by Do Kwon on “agora.terra.money“, about the specific fork chain as follows:

There are 2 chains, the new chain will be called Terra (administration token is LUNA), the old chain is Terra Classic (administration token is LUNC).

About 1 billion new Luna will still be in Do Kwon’s plan. This amount is divided as follows:

  • 25% will go to Community Pool
  • 5% for developers
  • 35% for anyone staking Luna
  • 10% for Luna holders on new chain launch
  • 25% for UST holders on new chain launch
  • The above proposal will be voted on on May 18 (Asia time).

Do Kwon believes this is an opportunity to rise from the ashes if this proposal is approved.

The Terra community is my family. I will always be here, no matter how difficult it is. Let’s build it again together,” said Terra CEO.