Following the collapse of stable coin UST, Terra founder DO KWON announces proposal to revitalize the project. DO KWON’s latest pitch echo’s of Ethereum’s fork in 2017. Titled the Terra Ecosystem Revival Plan 2, Kwon looks to fork the new LUNA coin without a stable coin component. The old chain would bear the name “Terra Classic” and the revised ecosystem would take over the “Terra” nomenclature. Do Kwon argues that Terra is more then just its stable coin, and that the platforms thriving ecosystem is worth saving.
Community meets Do Kwon’s proposals with skepticism and hate. Governance proposals comment section on Terra station are filled with negative outlooks and want to burn current Luna supplies. Looks like Do Kwon will face a lot of headwind moving forward with whatever the plan for Luna and Terra are.
