If you are very familiar with happenings in the embattled blockchain project ecosystem, Terra Classic, you probably must have heard that a lot of controversies have surfaced in the community of late. Regardless, the teeming community is still determined on revitalizing the LUNC project which was abandoned by the founders Do Kwon and the TerraForm Labs.
So far, Terra Rebels, a decentralized organization of developers formed organically with the common goal of resurrecting the LUNC ecosystem has rolled out many developments and forward-pushing initiatives like the LUNC burn initiative and a new project roadmap among others.
Meanwhile, Do Kwon is out to prove that he is not into hiding nor on the run following the Terra collapse incident in May 2022.
Terra Creator Do Kwon Plans To Host a Conference, Says Cops Could Attend
Following the crash of USTC and LUNC around mid-2022, it hasn't been an easy ride for the project creator as many charges have been filed against him. To this end, the Terra founder moved away from South Korea to Singapore, reportedly.
The resulting speculation was that he went into hiding and has been on the run to escape arrest warrants from South Korean prosecutors, Interpol and several other crime-related departments.
Do Kwon took to Twitter on Thursday to announce his intention to host a little meetup/ conference, citing that cops all over the world are free to attend. The Terra founder seeks to debunk the claims that he is hiding, highlighting that the Terra case is highly politicized.
He wrote;
Alright, I'll throw a meetup/conference soon to get over this in hiding bs. Cops from world over welcome to attend. For those of you that have been spreading falsehood on the taxpayers dime, you are invited with VIP honors - will even pay for your plane ticket. Show up if you dare.
Conflict of Ideas over $4.16 Million Non-Terra Assets
Whereas Do Kwon deserted the Terra Classic (LUNC) project following the unfortunate collapse of TerraClassicUSD (USTC) and the Luna token in May, the crypto founder has been showing great support to the now community-driven project.
Per an update, Do Kwon disclosed the existence of several multisig wallets to Alex Forshaw who is an ex-Terra Quant Team Lead in a Twitter chat in October. Among these wallets included an Ethereum cross-chain multisig wallet; [0x9538D438d506Fc426dB37fb83daC2a0752A02757] (“TC Community MultiSigs”), holding non-Terra assets worth around $4.16 million plus a certain amount of TerraClassicUSD (USTC) available in few liquidity pools.
Currently, these funds cannot be accessed by the Terra Classic (LUNC) community as the signers/ authorities for the wallet are ex-members of the embattled blockchain ecosystem. According to Do Kwon, the funds contained in the wallet belong to the LUNC community and are neither linked to the Luna Foundation Guard nor TerraForm Labs. He added that the Terra Classic community would be given access if they pass a proposal that outlines how the funds would be put to use.
In consequence, several members of Terra Rebels and non-Terra Rebels developers in the Terra Classic ecosystem have rolled out similar and dissimilar proposals. This conflicting ideas have caused a mild stir in the community.
While Alex Forshaw said the $4.16 million worth of assets should be used in funding professionalized LUNC blockchain development with robust dev + community oversight, Vegas, another core Terra Classic developer countered, stating that the assets held in the multisig wallet should be funneled to the community pool. In addition, Vegas said that the non-Terra assets be sold and cash used to buy back LUNC.
Meanwhile, the likes of RexYellerBelly, an ex-Terra Rebel member, and Marius Burkard supported Alex Forshaw's idea. To this end, the funds remain inaccessible to the Terra Classic community as they continue to debate the handling of the $4.16 funds.
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