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Terraform’s Kwon Floats Blockchain Restart Plan, Post Says

  • Founder behind UST said to give perspective on restart plan
  • Plan includes distributing network ownership to token holders
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Terra USD Stablecoin Plunges From Intended Dollar Peg
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Terraform Labs is working on ways to keep its Terra blockchain and ecosystem going despite the collapse of its cryptocurrency stablecoin, according to a blog post attributed to co-founder Do Kwon.

The proposal includes the redistribution of ownership of the blockchain network to investors who saw the value of their TerraUSD stablecoin and Luna tokens get wiped out this week. The proposition, titled “Terra Ecosystem Revival Plan,” would distribute 1 billion new Luna tokens to UST and Luna holders.