That’s what happened in Terra this week

The crash of former flagship Project Terra (LUNA) sent shockwaves into the crypto space, making the ecosystem seem slow to recover. Meanwhile, the fallen star follows in rapid succession. Here are the week’s current developments at a glance.

Does Kwon request a hard fork in Terra

Earlier this week, Terra founder Do Kwon unveiled a second revival plan for his collapsed network. In it, the South Korean has, among other things, a . demanded hard fork, In particular, the “old” series should be called Terra Classic, while the new series will continue to operate under Terra. Furthermore, the focus of the project should be shifted to DeFi applications and separate from the failed stablecoin UST.

However, the Terra community was more than sympathetic to the proposal. excited, Currently, over 7,000 users have participated vote Part. 91 percent of the votes rejected the proposal. With the vote still on among the validators, a contrasting picture has emerged so far.

Terra Legal Quits

On Wednesday again came another negative report from Terra. Thus the three leaders of the legal department are considered service is abandoned, he is from linkedinProfile of the Responsibilities exposed.

Does Kwon face legal consequences

Legal aid is now more important than ever to Terra. like friday famous South Korean investors wound up filing class action lawsuit against former Star Project thu kwon presented. Among other things, the seizure of South Korean assets is in the room. law firm LKB & Partners Terraform is also reviewing lawsuits against Labs co-founder Shin Hyun-seung, who says he abandoned the project in 2020.

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In addition, authorities in the Southeast Asian country are said to be investigating tax evasion Started against the founder of the crypto project.

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