This plan would contemplate the redistribution of 1,000 million tokens to establish a new governance system in the Terra ecosystem, which will seek to guarantee complete decentralization to keep values such as decentralized money and the power of the community in decision-making high.
Do Kwon, the founder of Land, recently posted a new update on the official project forum block chain, where he presented what he described as his “Reactivation plan for the Terra ecosystem” whose proposal contemplates very interesting changes.
Do Kwon unveils new details on rescue plan for land
This was indicated by Kwon in the publication, among which he highlights “a reset of the entire Terra Blockchain network,” for which it contemplates distributing 1,000 million tokens among the holders of UST Y MOON to thus create an ecosystem of validators for the new version of the network.
According to Kwon’s proposal, the distribution would be done as follows:
- 400 million (40%) tokens will go to holders of the MOON before token unbinding.
- Another 400 million (40%) of the tokens will go to holders of UST.
- About 100 million (10%) of the tokens will be used to indemnify / reward buyers who acquire MOON / UST before the termination of the network.
- And the remaining fund, about 100 million (10%) of the tokens will go to the community fund to promote the development of future projects.
The redistribution of the tokens aims to compensate and offer holders the opportunity to be validators, precisely because the community will have a great weight in guaranteeing the validation of operations and the security of the network, keeping values such as decentralization and democracy when making decisions.
Kwon himself acknowledges that this can be difficult, especially talking about an equitable distribution of the tokens to guarantee the greatest possible decentralization, but that the objective is precisely to achieve the best possible distribution so that the ecosystem stays alive with the values. important, which in the current state cannot be achieved.
The expectation for land she’s still alive
Far from what many may think, Kwon’s statements and the plan presented show that the development team is committed to trying to turn around the situation the project is going through. block chain, which is going through its worst moment after the fall of the stablecoin ust, the token price MOON that reached historical lows after a brutal day, as well as the fact that the network was in danger of a 51% attack, which led to the temporary suspension of activities due to security measures.
In this regard, Kwon highlighted that far from the financial results, the Terra ecosystem achieved the following things:
- The construction of a fairly large and remarkable development ecosystem in the crypto ecosystem.
- A large base of users and project enthusiasts.
- A very good reputation beyond what happened.
The founder of the project stressed that today the need for decentralized money is more relevant than ever, so the community of land will continue to work towards that goal, recognizing that UST It was not as successful as many had hoped.
Source: CoinDesk, now.earth
Angel Di Matteo version / DailyBitcoin
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