Billy Markus has criticized the relaunch of the blockchain

Dogecoin co-founder called Terra 2.0 supporters “dumb”

29.05.2022 - 06:25


3 min

What’s new? The co-founder of the meme cryptocurrency Dogecoin (DOGE) Billy Markus criticized the relaunch of the Terra blockchain on his Twitter. He stated that “LUNA 2.0 will show the world just how truly dumb crypto gamblers really are.”

What else did Markus say about Terra? The former Dogecoin developer had previously repeatedly criticized blockchain and Terraform Labs CEO Do Kwon personally. On May 16, Billy Markus reported that Kwon had blocked him on Twitter. He also said that the Terra head’s actions are destroying people’s trust in cryptocurrencies.

About Terra’s relaunch. Do Kwon made the proposal to restart the ecosystem after the UST stablecoin lost its peg to the dollar.

The launch of Terra 2.0 took place on May 28, at 9:00 Moscow time. There was also an airdrop of 1 billion new LUNA tokens. 40% went to UST holders who held the stablecoin at the time of its depegging from the dollar. Another 40% went to UST holders on a pro-rata basis at the time of the network upgrade. 10% went to LUNA token holders at the time of the network halted operations. The remaining 10% went to the project development fund.

The network relaunch was supported by Binance and Huobi exchanges., Bitfinex, LBank, Upbit, KuCoin, OKX, and MEXC also joined. Representatives of the exchanges said that they are ready to list the LUNA 2.0 token. On Bitrue, the new token is already open for trading in pairs with USDT and USDC stablecoins. A pair with USDT is available on Bybit.

For more details on the events surrounding the collapse of the Terra ecosystem, see GetBlock Magazine’s article.


Vasiliy Smirnov Vasiliy Smirnov

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