Chain News by Thebittimes.Com

Terra Luna Classic Proposal To Burn 800 Million USTC Proposal 11658 “Return of Community funds not used” by ex-Terra Rebels developer group member Vegas is up for voting. The proposal brought attention to idle 800 million USTC tokens related to Ozone Protocol and aims to return these tokens to the Terra Luna Classic community pool as the project is not actively following the proposed development plan. advertisement The Ozone protocol  was initially proposed by Terra co-founder Do Kwon and bootstrapped using funds from the community pool. The Ozone V1 and Ozone V2 saw high demand for their underwriting capacity. However, the Risk Harbor team has not utilized 1 billion UST (now USTC) fully as intended. Thus, the funds should return to the community pool. However, a counter-proposal by DNC, M Van S, Lunanauts, and SolidVote Validator aims to burn 800 million LUNC, even if Proposal 11658 passes. The new Proposal 11660 claims that a large ...

Tracing Terra’s Massive Bitcoin Reserve The speculations around the mysterious transfer of Terra’s huge Bitcoin reserve remain unfathomed. LUNAtics await the post-mortem report from Terra Labs regarding the past week’s jarring incident. While the rest of the market observers try to dig in on the whereabouts of the untraceable Terra blockchain. advertisement Neither the creators nor the foundation has released any updates post the crash. All we really know is that on May 9th a huge chunk (52,189 BTC) was moved to a single account on Gemini by LFG. The rest of the bitcoins were moved to an account on the Binance exchange the following day. It is unsure to date whether the bitcoins were sold or moved. It may be vital for those keen on the recovery of the losses, to find out the reality of roughly 80,000 BTC that is currently untraceable. Will Terra (LUNA) price make a comeback? The Wo...