• Tue. May 28th, 2024

Revival Proposal for Terra to go through Revisions

May 23, 2022

So far, two weeks have passed since the TerraUSD (UST) crash happened. Since then, the situation has been pretty dire for the entire Terra community. There is a lot of uncertainty and concerns among the Terra community due to the crash of UST.

Now, they are eager for the teams behind the Terra network to come up with a solution to the problem. It has become extremely important for the Terra teams to come up with a solution otherwise, they will start losing their community members.

Revision of the Proposed Plan

It seems that the teams behind the Terra network have already assessed the situation. They know how much loss they may incur if the problem is not dealt with and is not fixed with the right plan.

Therefore, the teams behind the Terra network have recently made an announcement in regards to the proposed plan. They have announced that they will be making revisions to the plan they had shared/proposed for the revival of the network.

Three Revisions Shared by Terra Network

It was through the Twitter profile the Terra network team shared an update regarding the revision of Terra. Through Twitter, the team revealed that they will be proceeding with three major revisions for the recovery of the Terra network.

The team confirmed that the revisions will be for the revival and redistribution of the Terra network. The revisions included in their plan are the depreciation of the supply to UST holders after the attack. Then comes the introduction of a new profile for liquidity for the LUNA holders before the attack. The third planned revision is for the genesis liquidity that the team are planning to increase.

Already Modified Parameters

The Terra team has confirmed that they have already applied modifications on several other parameters. These parameters include the initial liquidity of the UST and LUNA holders after the attack. They also confirmed having made modifications for the Ancho UST (aUST) holders before the attack. They added that once the modifications are made, the overall change they will achieve would be from 15% to 30%.

With the implementation of the modifications, they will be able to lessen the pressures of inflation. When the token is launched after the fix, its supply be keep getting increased.

Apart from the modifications, if the users from the above-mentioned group will get the same liquidity if they have less than 10,000 LUNA in their possession.

Furthermore, in more than two years, 70% of their LUNA will get entrusted. The particular process will reportedly have a six month cliff.

It is hoped that the modifications will have a great positive impact on growth and expansion of LUNA and UST.

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