A video of Terra LUNA/USD founder Do Kwon describing a “kill change” for Terraform Labs has resurfaced and goes viral on Twitter Inc TWTR‘s social media platform.
What Occurred: A lot of conspiracy theories and rumors involving Terraform Labs and founder Do Kwon have emerged for the reason that TerraUS UST/USD de-pegging occasion earlier this month.
Most lately, feedback from the blockchain’s founder Do Kwon in a 2021 interview precipitated a riot on social media.
— The Moon (@TheMoonCarl) May 23, 2022
Within the video, Do Kwon talks a couple of “Protocol Armageddon,” or a kill change, which might allow Terraform Labs to burn all belongings and minimize all ties inside 24 hours.
“Each time we really feel like we’re now not ready to finest serve the neighborhood, we pull the set off,” stated Do Kwon, on the time.
“That’s simply in case issues transfer slightly bit sooner than we’re anticipating,” he added.
See Additionally: IS TERRA (LUNA) DEAD?
Though his feedback gave rise to a lot hypothesis, it’s unlikely that this device was ever employed by Terraform Labs. As some users on Twitter identified, this measure was probably in place to take away Terraform Labs’ means to regulate Terra and additional decentralize it within the occasion that regulators got here after the entity.
“As an afterthought, I do not assume that is essentially malicious – it might simply be an extra decentralization measure – but it surely factors to a sure stage of planning surrounding what’s been taking place this week,” wrote Terra Analysis Discussion board member FatMan on Twitter.
“Additionally, dumping the challenge would not magically erase your money owed.”
See Additionally: Terra (LUNA) Founder Do Kwon Faces $78M Fine For Tax Evasion
Worth Motion: In keeping with information from Benzinga Pro, LUNA was buying and selling at $0.0001704, up 1.90% within the final 24 hours.
Bitcoin BTC/USD was buying and selling at $29,700, up 1.66% and Ethereum ETH/USD was buying and selling at $1,981, up simply 0.07% over the identical interval.