Polygon has launched a major fund for the Terra (LUNA) migration. DeFi platform Lido voted against supporting the new Terra Blockchain. And Terra CEO is said to be in talks to relist LUNA on South Korean exchanges. Stay tuned for details…
Polygon launches major fund for Terra (LUNA) migration
After Terra revival plan officially went live early Tuesday , a new development can help the community more. The new Terra 2.0 Blockchain will be officially launched on May 27.
Meanwhile, Polygon has announced that it has launched a multimillion-dollar fund to assist developers at Terra Blockchain. It’s “a relatively unlimited multi-million dollar fund,” said Ryan Wyatt, Polygon’s CEO, according to Techcrunch. The fund aims to help projects built on Terra migrate to the Polygon Blockchain. This announcement comes in the background of Polygon’s previous offer to help the Terra community.
DeFi platform Lido voted against supporting the new Terra Blockchain
Decentralized finance (DeFi) project Lido Finance, Less than 5.5% voted in favor, while overwhelmingly voted against supporting the new Terra Blockchain. The revival plan was confirmed today by Terra’s (LUNA) network validators.
Do Kwon’s proposal is to carry out a hard fork of the Blockchain, continuing as the original Blockchain Terra Classic. The new one will focus on shooting DeFi applications. A hard fork involves splitting the blockchain on which a protocol is running, using a new branch’s different set of rules. However, the initial reaction to Do Kwon’s plans was largely negative, with about 92% of the 6,220 Terra community members voting against the change.
Will LUNA be relisted on South Korean stock exchanges?
Terraform Labs CEO Do Kwon, who is currently being investigated by police for fraud, tax evasion and other financial regulation violations, is said to have requested that Luna 2.0 be relisted as it launches. According to rumors, his words; The message “Please list Luna 2.0” was sent via Telegram to five exchanges supporting KRW trading in Korea via a suspected contact from Terraform Labs in Singapore.
As you may recall from the news ofKriptokoin.com , CEO Do Kwon said on Twitter on May 18, “Let’s call the current Terra Blockchain ‘Terra Classic’ and the current Luna token ‘Luna Classic’. and let’s create a new Terra Blockchain”.
