Luna Basis Guard (LFG) tweeted Oct. 7 that its effort to distribute the remaining property of the failed Terra ecosystem to the token holders has been frozen because of ongoing litigations.
1/ Since $UST’s depeg in Might, there was comprehensible curiosity in LFG’s property and the way they are going to be distributed. As talked about, our purpose is to distribute LFG’s remaining property to these impacted by the depeg, smallest holders first. https://t.co/VOTQDkQZ90
— LFG | Luna Basis Guard (@LFG_org) October 7, 2022
The Basis acknowledged that it might be unable to hold out the distributions as deliberate for so long as “these issues are excellent.”
LFG reiterated that its purpose “stays to distribute LFG’s remaining property to small $UST holders.”
Excuses.
Might 9 – UST depeg
Might 16 (7 days) – LFG commits to small holder refund
Might 28 (19 days) – You launch a complete new blockchain & conduct a mass LUNA drop
June 21 (43 days) – First Terra lawsuit is filedYou had a great deal of time to do a easy USDC airdrop. Why did not you?
— FatMan (@FatManTerra) October 7, 2022
Fatman Terra, nevertheless, tweeted that the Basis was solely making excuses. In response to him, there was a 43 days hole between when the stablecoin de-pegged and when the primary lawsuit was filed towards Terra. He acknowledged that the Basis “had a great deal of time to do a easy USDC airdrop.”
Luna Basis had spent virtually all its Bitcoin (BTC) reserve to defend UST’s peg. In response to the Basis’s dashboard, its reserve is left with $105 million, with its Bitcoin reserve price $6.13 million.
In the meantime, a member of the 5-man council Jonathan Caras, in Might, mentioned Do Kwon didn’t attain out to the council since UST’s crash.
Just lately, South Korean authorities started canceling Do Kwon’s passport. A South Korean District Courtroom later denied the arrest warrant for his aide Yoo Mo.
Terraform Labs had described South Korea’s arrest warrant for Kwon as “unfair.”
