New LUNA Proposal from Do Kwon

Terra CEO Do Kwon proposed a new fork, presenting the second of his salvation plan to the community.

In his proposal, Do Kwon stated that as in the previous proposal, Terra should be forked, the name of the old chain should be changed to Terra Clasic, and the coin would be LUNC.

Token distribution
The new Luna token with a supply of 1 billion units:

25% to community pool for governance stake
Emergency development fund with 1% unlocked
4% development fund
35% on the chain image to be taken before the UST drops below $1 (May 7, 2022): wallets with less than 1 million Lunas and wallets with over 1 million Lunas, with different conditions
To Luna owners with 10% on chain image retrieved after network initialization (May 27, 2022): 10% unlocked 90% unlocked within 2 years
To UST holders, 25% of which are in chain image retrieved after network initialization: 10% unlocked 90% of deployed will be distributed unlocked over 2 years.