By Richard Hines
The Terra Grant Foundation (TGF) has drafted a proposal to withdraw 750 million LUNC tokens from its holdings. This action targets appreciating firms and investors who stood beside the Terra Blockchain in the event of the crash till now. Participants may still vote on this proposal, as it has an open window till Tuesday.
A Fund Appreciation Proposal
Edward Kim submitted a proposal on behalf of the TGF. This proposal seeks to preserve and hold 750 million LUNC tokens for the team’s developers and other members who have been working behind the scenes to revive the LUNA company since its demise and bankruptcy in May.
Kim has been a crucial essential part of this resuscitation effort, guiding the business back to its previous standing following the terrible disaster in May of this year. He has been a key member of the Terra Classic Blockchain, tirelessly striving to restore the blockchain to its former glory.
Kim has contributed to various Terra Classic foundation initiatives in the past also.
Despite the Luna crash in May, the Terra Grant Community has demonstrated tremendous support for its foundation. This is in recognition of and gratitude to all who stood strong with the Terra Classic Blockchain from the crash till now. This proposal calls for allocating 750 million LUNC tokens for this use.
Vote For Or Against This Proposal
Although this proposal will be decided upon by a vote, the TGF would advance in its plan if the yes votes outnumbers the no votes. When permission is granted, the TGF will begin the application and screening process, accepting firms and individuals who are thought to be eligible for this package and planning the allocation procedure.
Voters who cast a negative ballot are said to be against the idea, while those who cast a positive ballot are said to be in favor of it. The majority of votes cast, however, have been in favor, and voters still have till Tuesday to submit their ballots.
Edward Kim, however, promises to constantly keep the community informed of any events, votes, and developments that may occur throughout this process. A plan outlining how the cash will be distributed has been drafted.