Terra (LUNA) investors criticized the voting process on Twitter that will determine whether a new Terra chain will be created. Here’s the criticism from users and what happened…
Terra voting backfired from LUNA investors
After TerraForm Labs launched a proposal that allows the community to decide whether to create a new chain without the algorithmic stablecoin UST After about 24 hours, more than 148 million votes were registered in favor of the proposal. According to Terra Station data, 77.99 percent of the 148.57 million games registered so far support the creation of a new Terra chain. However, “no” votes represent 20.28 percent of the total votes in the poll.
Time to vote #LUNAtics 👇 #TerraIsMoreThanUST https://t.co/Y3wLYK2Qwn
— Terra 🌍 Powered by LUNA 🌕 (@terra_money) May 18, 2022
With results so far, members of the Terra community have it can be said that the vast majority support the idea that the team should create a new chain without the algorithmic stablecoin UST. However, opinions on various social media platforms show the opposite. Many Terra investors argue that the vote was rigged by the TerraForm Labs team, led by the company’s founder and CEO, Do Kwon. Some users claimed that more than 10 million votes were registered for the “yes” option just seconds after the voting started, as explained by the Terra team. Based on this, they argued that the vote was organized to support the team’s goal of creating a new chain and LUNA coins.
Users reactions: We need a fire!
Other users, who also reacted to the Terra team with the allegation that they manipulated the voting, stated that they wanted the old LUNA tokens to be burned to increase their value, instead of creating a new chain with the new LUNA tokens. “We don’t want new chains, we want Luna burned, ….. Don’t be a scammer – FAKE votes, looks like fake voting,” one user wrote. Another user voiced his concerns: “LUNA DAO has some questionable behavior. Voting is held in favor of the developers! WE NEED BURNING!”
The $LUNA DAO has some fishy behavior going on.
The voting is being rigged in the favor of the developers!
WE NEED THE BURN!
— CryptoKing 👑 (@CryptoKing_NFT) May 18, 2022
username u/shouryaaasharma The Redditor stated that the Terra team’s action during the voting showed that Kwon was guilty. He points out that in 11 minutes, 16,347,621 votes were cast in favor of Fork. Meanwhile, South Korean authorities announced yesterday that one of their special criminal units has been activated to investigate the collapse of the Terra tokens.
