Do Kwon Proposes Forking Terra Chain into Terra Classic and a New Chain without Algorithmic Stablecoin

Terra founder Do Kwon proposes "Terra Ecosystem Revival Plan 2", which includes: 1. Fork the Terra chain into a new chain without the algorithmic stablecoin. The old chain will be called Terra Classic (token Luna Classic - LUNC), and the new chain will be called Terra (token Luna - LUNA) 2. Luna will be airdropped across Luna Classic stakers, Luna Classic holders, residual UST holders, and essential app developers of Terra Classic. 3. TFL's wallet will be removed from the whitelist for the airdrop, making Terra a fully community owned chain. 4. Network security will be incentivised with token inflation. Target staking rewards of 7% p.a. The plan is still being negotiated with the community and the details are subject to change. The proposal will take effect after the token holders vote to approve it, which will begin on May 18.