TechFlow News — According to the Terra community forum, Do Kwon has proposed a new "Terra Ecosystem Revival Plan." The proposal includes: 1. Forking the Terra chain into a new chain without algorithmic stablecoins, with the original chain renamed Terra Classic (token Luna Classic—LUNC) and the new chain named Terra (token Luna—LUNA); 2. Airdropping LUNA tokens to Luna Classic stakers, Luna Classic holders, remaining UST holders, and key application developers on Terra Classic; 3. Removing TFL’s wallet addresses from the airdrop whitelist, making Terra a fully community-owned chain; 4. Using token inflation to incentivize network security, targeting an annual staking reward rate of 7%.
Do Kwon stated that the plan is still under discussion with the community and specific details may change. The proposal will take effect upon approval by token holder vote. Kwon committed that voting will begin on May 18.
