Do Kwon Denies Terra 2.0 Has 'Ninja' Code that Enforces Vesting of Tokens, Says it Was Clarified in Proposal 1623 13
Terra (LUNA) crypto currency token logo on coin technology themed design

Do Kwon Denies Terra 2.0 Has ‘Ninja’ Code that Enforces Vesting of Tokens, Says it Was Clarified in Proposal 1623

Summary:

  • Do Kwon has refuted claims that Terra 2.0 has ‘Ninja’ Code that enforces the vesting of tokens of all users to be delegated to random validators.
  • Terra’s Do Kwon has further clarified that the vesting of tokens was highlighted in Proposal 1623 to create a new Terra blockchain.
  • In another Tweet, Do Kwon expressed optimism that the new Terra Chain will be better than Terra Classic.
  • More crypto exchanges list new Terra (LUNA), which is currently consolidating below $6.
  • LUNA traders could be waiting for the Binance listing to better gauge the future of the new Terra token.

The founder of Terra (LUNA), Do Kwon, has refuted claims that Terra 2.0 has ‘Ninja’ code that enforces the vesting of LUNA tokens of all users to be delegated to random validators. The issue about forced vesting of LUNA tokens was raised by crypto community member @clayop, who also added that such a feature was ‘unethical and against self-sovereignty.’ He said:

Terra 2.0 seem to have a ninja code that enforces vesting tokens of all users(even including exchanges) to be delegated to random(or pre-registered?) validators.

IMO, this is unethical and against self-sovereignty. I haven’t seen any announcement regarding this code. All Terra 2.0 holders, including exchanges, please re-delegate or un-delegate your power!

LUNA Vesting Had Been Mentioned in the Terra Revival Plan

In his response, Do Kwon pointed out that the issue of vesting or locked tokens was highlighted in Terra Proposal 1623, which created the new chain. Do Kwon also added that @clayop might not have read the Terra revival plan in its entirety. Do Kwon’s response, highlighting where vesting was mentioned in the Terra revival plan, can be seen in the Tweets below.

Do Kwon Believs Terra 2.0 will be Better than Terra 1.0

In the same Twitter thread, Do Kwon was asked by crypto-community member @CsprLion whether he saw Terra 2.0 becoming bigger than Terra classic. Mr. Kwon answered in the affirmative, as seen in the following screenshot of their conversation.

Do Kwon Denies Terra 2.0 Has 'Ninja' Code that Enforces Vesting of Tokens, Says it Was Clarified in Proposal 1623 14
Do Kwon’s answer that he sees Terra 2.0 becoming bigger than Terra Classic. Source, Twitter.

More Exchanges Continue to List New Terra (LUNA)

At the time of trading, the new Terra (LUNA) token is actively trading on the following crypto exchanges. Yesterday, Binance announced that it would list Terra (LUNA) tomorrow, May 31st.

  • KuCoin
  • Gate.io
  • Bybit
  • Kraken
  • MEXC
  • OKX
  • Bitrue
  • Bibox
  • BingX

Concerning value, Terra (LUNA) is currently trading at $5.87 after yesterday’s volatility that saw the digital asset plummet by over 80% immediately after listing on Bybit. LUNA also seems to be consolidating below the $6 resistance level. Many traders might be waiting for the digital asset to start trading on Binance to determine if trade volume will signify better days ahead for the new Terra token.