Do Kwon Reduces Token Distribution in New Terra 2.0 Amendments

Do Kwon Reduces Token Distribution

Terraform Labs co-founder Do Kwon has amended the Terra 2.0 proposal by reducing the distribution of LUNA 2.0 tokens to the UST holders from 20% to 15%.

The amendment, which also adjusted the vesting schedule, was done while the voting was underway. Kwon increased the initial token unlocks of the LUNA 2.0 tokens from 15% to 30%, where the remaining 70% will be under a two-year vesting period.

Kwon remarked that the proposal he terms ‘Rebirth’ still stands with a few edited parameters to consider the community feedback. The voting of the original plan is underway through an on-chain vote.

The proposed amendments have attracted criticism from some community members as untimely. Terra’s analyst, Fatman, says that the amendments should come in a new proposal altogether.

The executive suggested to the platform community a plan to create LUNA 2.0 tokens on a new blockchain after the collapse of TerraUSD, following a depeg.


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