Terra ecosystem collapsed in May following UST depeg
Terra Founder do kwon Commented on Luna’s campaign proposal with mysterious tweets. The tweet contained GIF images of a wing, a handshake and a train in motion, but what the Terra founder meant in the tweet was unclear.
As reported by U.Today, Terra Expedition is a new proposal outlining an ecosystem expansion program and, as described by the team, it will be a four-year program with three primary objectives: incentivizing developers to build on Terra, deepening liquidity on Terra and onboarding users to Terra.
The program will be funded with 9.5% of the total LUNA supply that was earmarked at the launch of the new Terra series.
On Terra’s research forum, Do Kwon made a post contributing to the Terra Expedition discussion, urging the community to consider better alternative, or at the very least do nothing. “Hi – Do here. I believe the expedition proposal is a subpar spend of the community pool, and I urge the community to consider better alternatives (including doing nothing).”
In a lengthy post, he outlined a few reasons, one of which is belief, because developers don’t want to build on Terra unless there is a compelling reason. He explains in many ways that he believes the community pool can be well spent and gives reasons.
Do Kwon speaks on difficult times
In addition to being sued in class-action lawsuits in U.S. courts, he is wanted by South Korean authorities, Interpol has issued a red alert for his arrest and another $57 million lawsuit from 350 investors in Singapore shows that Do Kwon has a lot on his plate.
The embattled Terra founder recalls a December 2021 tweet on working on tough problems, tweeted“Amazingly, these past few weeks have been one of the most creative periods of my life.”
The Terra ecosystem collapsed in May following the UST depeg, resulting in losses of around $60 billion.
