Hot Terra 2.0 will be passed with 99%

In 6 hours, the vote on the proposal to revive LUNA (Terra 2.0) will result. However, the number of votes passed is overwhelming, with more than 99%.

Voting status update for Terra 2.0

As of 12:33 AM on May 25, the voting deadline for CEO Do Kwon’s blockchain hard fork proposal, the voting rate of the community is as follows:

– 67.27% voted in favor

– 20.41% abstained

– 0.34% voted against

– 12% voted against the veto

It is foreseeable that proposal to revive LUNA will be approved, despite numerous objections in the preliminary vote held earlier. Besides, the published version also received a lot of controversies because Do Kwon edited the proposal right in the vote.

In what was declared “final” in the revision, Terraform Labs acknowledged that it might not be possible to count all of the LUNA and UST balances in the next snapshot. The project advises users to return assets to this blockchain and warns users that the following cases will NOT be airdropped:

– UST and LUNA are moved out of Terra;

– UST and LUNA are on top of Terra protocols but cannot be counted on the DeFi Llama site;

– UST and LUNA are part of a number of CW3 multi-sig contracts.

According to the expected schedule, this company will capture the balance of LUNA and UST holders before de-peg at Terra block number 7544910 and after de-peg at block number 7790000 to serve the new LUNA token airdrop. Blockchain will be a hard fork after a few hours and is expected to go into operation on the same day, May 27.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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