Alex Forshaw Submits to Terra Rebel  As They Insist No One Is In Charge Of Terra Classic Codes

Terra LUNC Community Approves New Measure to Reduce Tax Burn
Terra LUNC Community Approves New Measure to Reduce Tax Burn

Alex Forshaw gives in and acknowledges that there will be no new LUNC minting as the voice of the Terra Classic community wins out. Tuesday brought news of a fresh plan to restructure and repeg TerraClassicUSD (USTC)from certain Terra Rebels .

The idea, which included a plan to manufacture 500 billion Terra Luna Classic (LUNC) to buy Bitcoin as security for a brand-new algorithmic fungible token (AFT) called USTN, was met with fierce opposition.

At the time, a number of powerful individuals in the community opposed it, describing it as a horrible idea and a reversal of any advancement gained by recent burn attempts. Additionally, it sparked open debates among developers.

Terra Will Not Be Subject to Centralized Control, Says Rebels

Alex Forshaw, the main proponent of the idea, revealed in a tweet today that his plan no longer calls for the minting of new LUNC. 

This came in reaction to a tweet from Classy Crypto, one of the top influencers in the community, announcing the arrival of the opposing repeg proposal by Tobias Andersen AKA Zaradar in two weeks. Classy Crypto promoted Zaradar’s plan as the solution for those who oppose minting  new tokens.

It’s important to note that in response to Forshaw’s suggestion on Tuesday, Zaradar insisted that he was in command of the codes and that nobody would be creating new LUNC. 

RexYellerBelly of the Terra Rebels refute this claim today in response, pointing out that there will be no central authority over the chain.

“Just for clarity, no ‘one’ is in charge of LUNC code.

Zaradar Response to Inquiries About Terra Repeg Plan

As was already mentioned, one of the primary developers, Zaradar, is also working on a Terra repeg plan that will be revealed in two weeks, as stated by Classy Crypto. In answer to questions on the timing, the developer revealed this.

A rough outline of his proposal has also been released.

Several neighborhood members have expressed gratitude to Forshaw for listening to the community in light of today’s happenings.