In a preliminary vote, the Terra community has opposed founder Do Kwon’s proposed revival plan to fork the Terra chain into a new chain without the algorithmic stablecoin.
Moreover, the Terra community believes burning will be the best option as suggested by BINANCE CEO Changpeng Zhao. People are blaming the Terra team for not listening to its community and claiming to bail out whales before retail investors.
Preliminary Voting Opposes the New Terra Revival Proposal
Do Kwon proposed the “Terra Ecosystem Revival Plan 2” on Monday to revive the Terra ecosystem, considering the system as more valuable than UST stablecoin.
While the official governance vote will start on May 18 at Asia time, preliminary voting by more than 1000 Terra community members indicates sentiment is against forking the Terra chain.
90% of the participants in the preliminary vote are against the fork proposal.
