Terra founder snubs hearsay; Asks community to await right information

Sahana Kiran
Source – Unsplash

The community has sluggishly started recovering from the damage induced by Terra. However, it was overwhelmed with information about the creator of the project, Do Kwon. As his previous comments about the project resurfaced, the community grew more hostile towards Kwon. Amidst this, an array of employees who worked for Terraform Labs [TFL] came forward and revealed that the dramatic crash of the network was foreseen. Similar allegations against TFL as well as Kwon have been taking over Crypto Twitter. Just yesterday, Kwon was accused of cashing out $80 million every month before the crash.

While all of these signs pointed towards how the Terra founder was at fault, he suggested otherwise. In an elaborate series of tweets, Kwon stressed the “misinformation and falsehood” that have taken the front stage. He started by pointing out that the entire team was currently invested in building Terra 2.0. As a result, they haven’t had the time to revert to the concerns of the community. He added,

“While most of our efforts had been spent on Terra 2.0 and making sure ecosystem developers can find a home after the depeg incident, we will soon be more proactive in communicating with the press & getting the right information out there.”

Additionally, the community is filled with speculations about how Kwon and his employees knew about the imminent crash of Terra. As mentioned earlier, several have spoken about it as well. Dismissing the same as hearsay, the Terra founder tweeted,

Terra 2.0 is not TFL-led, Kwon notes

Time and again, post the launch of Terra 2.0, Kwon has highlighted how the new chain wasn’t led by TFL. While rumors about the Kwon and TFL holding LUNA through shadow wallets surfaced, he pointed out that they hadn’t participated in the airdrop.

He stated,

“…while TFL intends to continue supporting and building on the Terra 2.0 network, it is not by any means a “TFL-led” chain – we consciously bowed out of airdrop allocations and all the decisions are being made by various community groups, albeit in a rocky fashion”

Amidst all of this chaos and allegations, LUNA 2.0 was trading for a low of $2.99, at press time. This was nearly an 85 percent drop from its all-time high of $19.54.