Luna Coin Drop, Possible Lies & Nepotism

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The Luna (now Luna Classic) crash has brought a lot of attention to Do Kwon, the founder or Terra Form Lab(TFL). Some of you must have heard that Do Kwon privatized his Twitter page. What could be the reason? For a start the new Luna is down more than 70% since it went live, at this point I really don’t know what he is trying to achieve or trying to prove. Almost all his project have turned out to be a total failure within the past 2 months.
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Luna Classic was supposed to be a decentralized platform but unfortunately the crash proved it wrong. First after the crash, lots of people urged him to burn the excess supply that were minted, hopefully this was going to restore the price, for non disclose reasons he refused. But instead he proposed a hard fork, and suggested that the community vote for a hard fork. The vote was made and it seemed the result came out in favor of Do Kwon’s proposal for a hard fork as it is also rumored that Do Kwon had a lot of the Luna Classic token which made the proposal favor him. After the fork, the new token was supposed to be community owned as none of the Devs were expected to not have any of the token.

Turns out that rumor has it that TFL might have withheld $200 Million worth of LUNA for theirselves. How true is this? I don’t know but some guy on Twitter called FatManTerra claims so. $200 Million worth of LUNA is about over 40 Million Luna tokens. That sounds like a lot of money and token for a supposedly decentralized community withheld by the dev.

It’s obvious that at this point the number of people that believe in LUNA is extremely low, no one seems to care or want to risk their money with Do Kwon. Can we call him a joke now? I wouldn’t advise anyone not to invest in his project, but with his track record and reputation currently, any one investing is investing at their own risk.

He has been called a liar and accused of getting to where he his through nepotism. Once again, these claims have not been verified, but at this point people will say or do anything because they are angry.

Faith Of Luna In Next 5 years

With this current rate and damages LUNA crash has caused people, I don’t think there is a 5 year plan for LUNA. If it survives 3 years without dipping further to probably 98% compared to the listing price , then it’s an absolute miracle. No one knows what the future holds for the token, but like I always say, time will tell. I don’t know if the investors will ever heal from the LUNA crash loss but I hope they do because it is not easy losing all that money on a project you believed in with all your heart.

Posted Using LeoFinance Beta



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