TerraForm Labs Has No Control Over LUNC, Terra 2.0 Is A Public Coin, Claims Do Kwon
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After the Terra (LUNA) crash, there have been a huge number of facts have come into the spotlight.
Among them, there were allegations like Do Kwon cashing out $2.7 billion of worth crypto before the collapse of Terra. Even South Korean media accused Do Kwon of committing many financial crimes today. However, Do Kwon has denied all the allegations. To prove his innocence, he even posted a Twitter thread.
1/ This should be obvious, but the claim that I cashed out $2.7B from anything is categorically false
— Do Kwon
(@stablekwon) June 12, 2022
Also, Do Kwon had come up with a plan to hard fork the Terra Blockchain, and this was rejected by 90% of voters.
Meanwhile, the crypto space has witnessed yet another development. There has been an exchange of questions and answers between Terra’s Do Kwon and another user on Twitter.
The Twitter handle known as THORchain.BULL wanted to understand why re-enabling the LUNC delegation has not yet come into force. As per the claim by the user, resuming the governance on LUNC means the overall control of the LUNC is still under (TerraForm Labs) TFL. On the other hand, there is still no governance on the LUNC market cap falling to $700 million.
This is not the first time Do Kwon is having a strong exchange of comments with Twitter users. This time, he has come up with a diplomatic approach.
As Do Kwon chose to reply to the user’s statement, he clarified that TFL has no control over LUNC. Next, he says that the one who came up with the plan of resuming the delegation is required to get in touch with validators to move things ahead and upgrade the network.
Do Kwon Asks User To Submit His Own Code For Audit
This was not it. Another user questioned Do Kwon on Pylon Gateway user’s payments, which are still pending. Pylon Gateway is a permissionless decentralized platform that allows any project to launch governance or utility tokens.
Do Kwon had his clarification. Firstly he said that Pylon Gateway is a public service, not a private one. Then he said that the token involved there are from the community and Terra 2.0 doesn’t help TFL. The same was said by TFL earlier that the public will have complete control of Terra 2.0.