Terra | Do Kwon updates details of the fork proposal based on community feedback, with nearly half of the votes cast, Avalanche clarifies selling concerns.

The voting rate for the LUNA fork proposal has reached nearly half and has met the minimum threshold, with over 80% in favor. Following feedback from the community over the past two days, founder Do Kwon has made three adjustments to the proposal.

1. Increase New LUNA Initial Liquidity

According to the proposal, the changes for pre-attack aUST holders, as well as post-attack LUNA and UST holders are:

• Changed from 15% unlocking in the genesis block to 30%.

The purpose is to increase the supply at the start of the new chain to alleviate future inflation pressures.

2. Pre-attack LUNA Holders

To ensure the rights of retail holders, the updates are as follows:

• Holders of < 10K Luna will have 30% unlocked at launch, with the remaining 70% locked for two years and linearly unlocked over six months, as opposed to the original one-year lockup and two-year linear unlock.

In the proposal, Do Kwon stated that this change will ensure that retail Luna holders have similar initial liquidity compared to the first point update, covering 99.81% of wallets and accounting for only 6.45% of the pre-attack snapshot.

3. Reduce Post-attack UST Holder Share

• The airdrop share of post-attack UST holders will decrease from 20% to 15%.
• The extra 5% will be allocated to the community pool, increasing from 25% to 30%.

Voter Turnout Nears 50%

As of now, the voting data for the new fork proposal is as follows:

• Voter turnout: 47.88%
• In favor: 80.25%
• Opposed: 15.11%

Voting has surpassed the minimum threshold on the afternoon of 5/19 and will end on 5/25. If approved, the new chain will be snapshot and activated as early as 5/27.

Avalanche Clarifies Concerns Over LFG Token Sale

The Avalanche protocol's tweet clarifies concerns over the Luna Foundation Guard (LFG) selling AVAX tokens.

The Luna Foundation Guard (LFG) and Terraform Labs (TFL) collectively bought $200 million worth of AVAX tokens in February. According to the LFG treasury, AVAX is the second-largest asset after UST, valued at around $58.57 million.

Avalanche emphasizes that LFG's holdings represent only 0.5% of the past week's trading volume and that LFG must lock up for a year. In the event of any selling plans by LFG, the Avalanche Foundation is prepared to work with LFG to develop a reasonable trading strategy.