Terra Blockchain Developers Announce 4-Year Plan to Revive LUNA
Earlier this week, Terra developers announced a new proposal to revive the network, as the platform’s founder, Do Kwon, is facing fraud charges.
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The “Terra Expedition” proposal is a revised version of the mining program and developer alignment program that was established during the genesis of the network.
Before the proposal can go into effect, the majority of LUNA tokens must vote in favor of the changes.
According to the proposal, 9.5% of the total supply would go to fund the launch of a new blockchain, despite the fact a new Terra blockchain was already started earlier this year following the sharp decline of its two related tokens in May.
The incentive program for the new network would run for four years and be managed by a community-elected committee that will evaluate the plan every 12 months.
The proposal aims to better align incentives across the network and to attract developers, get new users onboard and promote liquidity.
“The Terra Expedition is a four-year program aimed at growing the Terra ecosystem through a series of initiatives with three main objectives, namely: incentivizing developers to build on Terra, deepening liquidity on Terra and onboarding users to Terra.”
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