Monday, September 25, 2023
HomeEthereumEthereum cofounder Vitalik Buterin wants average Terra holders to be compensated via...

Ethereum cofounder Vitalik Buterin wants average Terra holders to be compensated via ‘coordinated sympathy’ after the stablecoin’s crash

Ethereum co-founder Vitalik Buterin said Stablecoin Terra and its sister token Luna holders should be compensated after a spectacular crash last week with widespread sales in the wider crypto market. thinking about.

Algorithm’s stablecoin TerraUSD removes the peg from the dollar at the beginning of the week, Death spiralAs one analyst said, to the value of Luna in coins and related tokens.

As the Stablecoin community emerged from the collapse, Buterin endorsed a Twitter user’s suggestion.

“Influencers, personal responsibilities, sympathy and relief adjustments to the average UST small farmer who was stupid about” 20% US dollar interest rate “by SFYL [sorry for your loss] For the wealthy, “Buterin tweeted.

FDIC insurance is “Clear precedent He quoted $ 250,000 per person in repayment for those who lost money. He also referred to another Singapore rule.

“Interesting irrelevant [precedent] It’s Singapore’s employment law, “he wrote in a tweet.

He has stopped specifically calling for further regulation in this sector.

Meanwhile, the founders of Terraform Labs Do Kwon sought to reverse the fate of the holders of TerraUSD, the world’s third largest stablecoin, before losing the peg to the dollar.

In a Twitter thread on Monday, he said he was discussing the next steps in the Terra community.Proposed Revival plan This requires the TerraUSD blockchain to be “forked” into the new chain with new Terra coins that are not fixed to the dollar. TerraUSD will continue to be Terra Classic.

- Advertisment -
Google search engine

Most Popular

Recent Comments