Most users feel frustrated and want nothing to do with Do Kwon

According to an informal vote conducted in the Terra (LUNA) community, most disagree with CEO Do Kwon’s blockchain hard fork proposal.

Almost 100% of Luna users deny Terra co-founder’s plan

The Terra community is voting against Do Kwon’s revival plan, which includes forking the existing network and distributing new tokens. According to the polling site, 92% of total voters said they were unwilling to see another network launched by the same group. 6,234 votes have been submitted at press time, with only 8% of voters agreeing with the newly presented proposal.

Almost 100% of Luna Users Are Denying Terra Co-Founder's Plan

Poll results on Terra’s forum | Source: Terra Governance

Do Kwon has shared all the details with the community before. The plan includes creating a new Terra chain without an algorithmic stablecoin. The “old” string will be packed and marked as “classic,” while the new string will take on a name everyone knows.

All Luna Classic producers will receive an airdrop of the new Luna tokens. UST holders will be eligible to swap their stablecoins for the new token. Terra’s platform wallet will be whitelisted, which will create a new version of Terra’s community-owned chain.

According to the post, most token distribution will be allocated to the emergency runway for Terra dapp developers, which will become the foundation for a long-term interest in the project. The network will include a staking bonus of 7%.

Although the community vote shows that a majority of investors do not support such a fundamental change, the official vote of the governing board could have a completely different outcome as it would include a group of investors.

At press time, Luna is trading at around $0.001 while having over $1 billion in market capitalization. Stablecoin UST sits around $0.10 and is unlikely to recover to $1 without support from LFG or other sources.

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