Do Kwon’s plan to rebirth the Terra blockchain gets approved
The governance vote on Do Kwon’s proposal to relaunch the Terra blockchain and create LUNA 2.0 tokens has passed. In total, 65.5% of the total votes supported Kwon’s proposal. The relaunch is slated for May 27.
However, Do Kwon’s proposal irritates small investors because the majority of LUNA 2.0 will be divided among whales, who currently own a large amount of LUNA, UST. Meanwhile, hundreds of thousands of retail investors will suffer because of the drop in token prices.