The final Post-Attack snapshot to calculate the genesis $LUNA distribution for Terra 2.0 has now passed.
Validators will now be hard at work assembling a genesis file for the launch. Stay tuned.
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I’m in no rush to make a hasty decision about what to do next.
For now I’m going to try to relax, play a video game or something, and observe.
You already know I want the Terra fork to be a builder chain, but let’s see.
All updates will be posted on this Twitter account (@terra_money). Any other Twitter accounts purporting to represent Terra are fake.
Users are advised to be on the lookout for scams.
The community is deciding on a new @terra_money, between restoring a snapshot prior to attack, removing TFL, fully collateralizing UST and drafting & deliberating new mechanisms for $LUNA.
We must salvage the remaining value in the ecosystem & community and rebuild the right way
The Terra blockchain was officially halted at a block height of 7603700.
https://t.co/squ5MZ5VDK
Terra validators have decided to halt the Terra chain to prevent governance attacks following severe $LUNA inflation and a significantly reduced cost of attack.
Not enough people appreciate how close $UST was to becoming unbreakable. The attack got in during bloody markets and right before $BTC reserves and 4pool were set up. What saddens me most is how close we got. But it moved the torch far far ahead for decentralized money to succeed
These are the toughest days of my career no doubt.
But being a builder is about overcoming setbacks. About not giving up when things stop going to plan.
So let’s keep building.