The new version of Terra (LUNA) has been online for several weeks now. Part of the rescue plan is to distribute LUNA among projects that built on the old network, with the aim of getting the new network off the ground. However, it turns out that this does not go smoothly, with projects that like vultures discuss with each other which projects are entitled to this emergency financing.
To make matters worse, leaked chat messages show that Terra founder Do Kwon is not averse to joking during the collapse where billions of dollars were lost. It doesn’t look so pretty behind the scenes!
Terra projects fighting for investment
FatManTerra’s tweets show that behind the scenes there are two camps among the projects. On the one hand, it is felt that projects based on their old total value locked (TVL) should receive compensation. On the other hand, a number of projects believe that this should not be based on the old TVL, as this means that smaller projects will not receive funding.
A representative of Orne.io, a project on Terra, sums it up nicely, according to FatManTerra: “All I see now is greed.”
“I saw the worst side of us. If this is the terra 2.0 you’re planning to build, I’m not even sure at this point if I want to be a part of it.”
This voice summarizes the discussion quite well. Terra is hurting, and it’s vital, now more than ever, to protect small teams & small builders who are passionate about the community. Having them move to other chains out of necessity will cause an irreparable rift. (11/17) pic.twitter.com/yPMsM86wEd
— FatMan (@FatManTerra) June 4, 2022
Kwon jokes during LUNA crash
FatManTerra also shares some bonus content from behind the scenes. As LUNA and stablecoin terraUSD (UST) collapsed, sending billions of dollars up in smoke and some people even committing suicide, Kwon jokingly suggested a rescue plan in the form of Tinder.
“While I love a good joke, I also find it sickening that Do Kwon has the ability to make such jokes when people have literally died at his hands,” FatManTerra concluded its series of tweets.
Earlier crypto news reported that Terraform Labs dumped LUNA tokens just before the big crash. Arcane Research recently published a report on this.