Voting ends soon on New Terra Channel Luna

The community vote on Terra’s proposal to create a new blockchain ends today, with most Luna holders in favor of the fork.

Six hours after the vote, more than 67% voted yes. According to the data, more than 12% opposed the vote and 20% abstained.

So far, almost 81% of all LUNA holders have cast ballots. The vast majority of holders who support the proposal appear to be blockchain evaluators. Terra.

The proposal calls for the creation of a new Terra chain and the sending of a new Luna token to current holders. The new chain will be released from the UST Staplecoin.

When will the new Terra launch?

The new channel is expected to launch on May 27, at the suggestion of Terra founder Do Quon. Kwon’s schedule indicates that the Genesis file will be created on May 27, shortly before launch.

Terra recently clarified that the new chain is not a tough fork, but rather a completely new blockchain.

Kwon and Terraform Labs (TFL) are already collecting snapshot data for Airtrop. Holders of bonds prior to May 9, that date Extraction Happened, get a big stake in the air drop.

Terra Holders speculate that the snapshot for the holders may take place on May 26, when the difference has been removed, while Block 7,790,000 will be created on Blockchain.

Kwon and TFL face community and regulations

While this proposal excludes TFL and Kwon from the new Terra blockchain, the creator has been heavily criticized after the downturn in recent weeks and sometimes his stances. Obscure

South Korean authorities have prosecuted Kwon and TFL on several counts, including fraud and tax evasion.

The crash is expected to tighten cryptocurrency regulations around the world, with lawmakers in the US and Europe already calling for further action to curb cryptocurrencies. Fixed coins.