Dogecoin co-founder: Luna 2.0 project will attract stupid crypto gamblers
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Answer Dogecoin co-founder: Luna 2.0 project will attract stupid crypto gamblers
In a recent tweet, Dogecoin co-founder Billy Marcus stated that the upcoming launch of Terra 2.0 will just be a iteration of a failed blockchain project and show just how stupid crypto gamblers are.
The community voted overwhelmingly in favor of Proposition 1623, a revised version of the Do Kwon founder’s initial plan to relaunch the network.
The new Terra network will be launched on May 27 with one notable difference being the lack of an algorithmically stable coin.
Earlier this month, one of the biggest blockchain projects started to climb after the TerraUSD (UST) stablecoin lost its peg and came under heavy selling pressure affecting governance coin LUNA, driving its value to zero.
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The launch of the new blockchain will also accompany the launch of the new LUNA digital currency.
The old coin will be called LUNA Classic to become like Ethereum Classic.
According to the distribution model presented in the proposal, 35% of the cryptocurrency will be distributed before the LUNA attack.
10% of the cryptocurrency supply will be allocated to UST holders prior to the collapse.
After the collapse, the owners of LUNA and UST will receive 25% of the cryptocurrency.
Footage was taken on May 7 and May 27 (before and after the project collapsed).
Do Kwon claimed that his main motive was to preserve the vibrant ecosystem and believed that what the project faced was a temporary obstacle.
Although many parties support the Luna 2.0 project, many are still skeptical about the project’s credibility.
Dogecoin founder Marcus, for example, has been very critical of Do Kwon’s plan.
Earlier this month, he stated:
Terra was the dumbest thing I’ve ever seen.
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