Do-Kwon Plans New Stablecoin in Terra 2.0?

• The New LUNA price varied from $3.63 to $19.54 in just 2 days.
• The Terra community is disappointed with the idea of a new stablecoin.

The comforting point for many old Luna investors was the fact that the new Terra blockchain doesn’t include any stablecoin which they believe have pulled Luna with itself, but the rumor  of Terraform Labs(TFL) planning to develop another stablecoin in the new network may hit them hard.

FatmanTerra, Crypto enthusiast tweeted:

FatmanTerra, a popular Terra community influencer, tweeted the above on May 30, the information seems to be from an insider in TFL. And the community doesn’t seem to be welcoming the idea, because the decentralized stablecoins and Do-kwon have a pretty bad past history. 

The Terra 2.0 (LUNA) crashed below 80% on May 30, within 3 days of launch the coin has traveled between $3.63 and $19.54. The current price of LUNA is $8.11 at the time of writing, according to CMC. And the coin is airdropped today at Binance exchange platform, which may have certain impact.

The ‘Lunatics’ were quite relieved when TFL revival plan dropped their algorithmic stablecoin UST as they thought the Terra officials had gained knowledge. TFL also stressed on the fact that Terra 2.0 is not a fork but a new product, and the Dapps available on Terra Classic are going to be relaunched. 

Though this decentralized stablecoin talk has distributed the community and the replies under the FatmanTerra tweet gives the idea that Terra may lose their community support if they proceed further with stablecoin.

One of the replies to the tweet is “Fool me once, shame on you. Fool me twice, shame on me.”