Still No Certainty for Luna
Still no certainty for Luna
Luna investors are no closer to centainty on their investment as yet as many still await a verdict of whats to happen with the remainder of the Luna Foundation Guard holding.
Changpeng Zhao, CEO of Binance recently getting involved on the action as the community has called him to account. Changpeng has stated smaller retail investors should be compensated which is a smart move given this event has the capacity to ensure no new investors join Cryptocurrency. reimbursing the smallest wallets first ensure confidence to the users and maintains some form of trust.
Changpend has also come out stating that he is willing to put his own investment worth $1.6 Billion last or out of the equation but it might be easier for him to have this position given Binance is the largest crypto exchange and continues to gain funds through swap fees. Also his initial investment of $US3,000,000 is most likely a small write off the company is willing to take a move many investors can not afford.
Previous data taken before the cash further showcased that 96% of Luna wallets held less than 100 Luna. This indicates the project was still in its infancey and the majority of investors being retail investors.
Do Kwon, Founder of TerraForm Labs recently put out a call to action on Twitter requesting Terra developers support a bid to fork the network and commit to building on the new network.
Much of the community is in uproar at this decision and even Changpeng has spoken against it stating it would be better to buy back and burn Luna.
Chances are that Do Kwon WILL fork the network and recommence and in an earlly Twitter post the founder spoke of not having an algorithmic stable coin but a collatoralised one. So it looks as if the initial investors may well be getting left behind and will need to drum up new cash to invest in the new Luna.
There are talks of airdrops but to who and when is uncertain but chances are a large quantity of airdrop recepients will be selling.
What are your thoughts on the recent development in the Terra Luna Network. Will it rise again or do you believe it will simply just fade away in the sunset?