Two big staking companies won’t support Terra’s new blockchain (via Timccopeland)
, it said, “The proposal has been unilaterally modified multiple times while the voting period was active, leading to a lack of confidence in the integrity of the vote itself.”
Figment said it did not see launching a new chain this quickly as a solution. It added that Terraform Labs may still end up having influence over the new blockchain and that the company may face a range of lawsuits in the near future. “These lawsuits could also pose unforeseen risk to infrastructure providers in the future,” it said.
Terra’s new blockchain is being launched as a result of the collapse of the current chain. Its stablecoin TerraUSD lost its peg to the US dollar, leading to a death spiral for the blockchain’s native token Luna . Following its collapse, Terra’s governance saw a speedy turnaround as Terraform Labs CEO Do Kwon proposed a new blockchain and put it to a vote. As The Block reported, theDespite this — and a variety of
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