Terra Community stops Luna Chain to protect what is left

Terra Community stops Luna Chain to protect what is left

The competitive cryptocurrency Luna fell under a Penny on Thursday when the Terra protocol continued to shape new units to cover the request for repayment for its fluctuating VAT stable, which is far from its intended one-to-one-to-one binding to the US dollar.

With increasing offer, the percentage of Luna shrank, which was stamulated with validators, which created a new risk: a governance attack.

So that the entire chain - and all of your assets - are safe, must be demolished at least a third of the Luna to honest examiners that process the transactions.

There are still 2.4 billion VAT in the Anchor protocol and about $ 279 million in other stuck assets, mainly bonded ether. If two thirds of the Luna were bought cheaply and put to malicious examiners, all of these assets could be at risk - and it would only cost a few million dollars of luna to take over the chain validation.

Therefore, the validator community decided to simply bring the block production of the chain to a coordinated stop to carry it out Emergency upgrade This deactivates the Luna delegation.

According to the official Twitter account, the network should then be restarted.

The Luna supply rose from 1 billion a week ago to around 40 billion, when the chain was stopped, the consequence of the incessant efforts of the protocol to restore the unfortunate VAT bond.

Source: terra.smartStake.io/history