The post Chaos Before LUNA 2.0 Launch! Here Are The Leaked Chats That Proves The Panic After Terra Crash appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide
A Terra validator has published a communication thread between entities, including Do Kwon, as they set to open LUNA 2.0 after Terra Crash. The text logs demonstrate the panic and despair that Terra insiders were experiencing in the aftermath of LUNA’s demise.
The “Terra Rebirth League” (TRL) was the Telegram group from which the discussions were stolen, and it had roughly 200 members. The debate, which began on May 12, swiftly turned into a mess with so many viewpoints
Do Kwon and Sunny Aggarwal of Osmosis were among those attending for the discussion. Validators, developers, and other significant individuals took part in the conversation, in addition to high-profile people.
Reason For The Mess
The TRL was formed to be “a dedicated persistent task force, independently run, always critically reviewing all attack vectors/vulnerabilities,” according to one forum member dubbed BigB.
These goals were quickly put to the test as the basic difficulties of coordinating such a large group of people became clear. One of the initial issues was deciding where Terra should stop on the blockchain. At the same time, still many validators had their transactions running
There were requests to involve regular community members in the early phases of the conversation. However, it was thought that this would bring more damage than good. SyncNode’s George Bunea opposed such demands, fearing that they would just confuse the matter further.
“I think these sort of activities [sic] must be well planned and announced effectively,” JoseCT said of the organizational issues. He also stated.”In reality, tracking these kinds of Telegram discussions is difficult.”
“Never seen such uncertainty on anything this severe,” a member named Rohit remarked.
Also Do Kwon struggled to keep up with all of the talks. “Can someone describe the issue?” he said at one point. “I’m a little puzzled.”
Terra 2.0 Team Had Two Things To Look At
One of the group’s fears was whether they had enough voting power to influence and govern Terra’s future fate. As the crisis advanced, it became evident that the gang had significant support to assist them carry out their goals.
The concern on what to do and when, still remained unanswered. Some, like Lido’s Kai Tuirin, preferred to allow for the things to settle down before making any major decisions.
“I think we should hold on a little longer, gentlemen,” Tuirin added. “It’s pointless to begin now. On the Wormhole side, there is still no resolution.” “Launching now will merely invite more mess,” Tuirin continued.
Conversely, it is evident that there was a widespread pressure within the Terra forces, particularly at the top levels.
Finally, the Terra Rebirth Team waited for two factors to fall into place before trying to act. The first was the reopening of the Wormhole Bridge, and the second was Do Kwon’s consent.
1/ Block 1 of the brand new Terra blockchain (with a chain_id of “Phoenix-1”) has officially been produced at 06:00 AM UTC on May 28th, 2022!
— Terra
Congratulations to the #LUNAtic community on this expeditious feat of collaborationPowered by LUNA
(@terra_money) May 28, 2022
On May 28, the genesis block for Luna 2.0 was set. Terra has traveled a rough path to get to this point, and the next leg of the journey won’t be a cake walk either.
At the time of writing, Terra (LUNA) is trading at $6.76 with an upswing of 3.27 over the last 24hrs,
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