▲ Terraform Labs CEO Dohyeong Kwon

Dohyeong Kwon, CEO of Terraform Labs, who caused the collapse of the Korean cryptocurrency Luna and Terra USD (UST), suggested a revival of the Terra network, but investors are showing a cold reaction.

The Block, a cryptocurrency media outlet, reported on the 17th local time that more than 90% of investors were opposed to CEO Kwon's proposal.

According to a preliminary poll for voting by a member on the Terra Research Forum, a discussion forum for the Terra blockchain protocol, 91% of 3,800 voters as of 12:20 pm western time in the United States said they were against the proposal. revealed.

CEO Kwon made a proposal to create another blockchain for the revival of the Terra blockchain on the 'Terra Research Forum' the day before.

While the algorithm-based stablecoin UST is in an inoperable state, they are trying to create a new blockchain without a stablecoin through a 'hard fork'.

A hard fork is a process in which a new currency is forked from a cryptocurrency based on a block chain.

In this case, the existing blockchain will become 'Terra Classic' and 'Token Luna Classic', and the new chain will become 'Terra' and 'Token Luna'.

However, The Block, citing the progress of the preliminary voting, said, "It seems that the Terra community is firmly opposed to CEO Kwon's proposal for a fork." "Most reactions were '

This vote for or against has nothing to do with the governance vote that officially decides whether or not to fork the Terra blockchain, but it does show where the Terra community is leaning, The Block said.

However, there are members who support Kwon's proposal, and the movement of the big hands holding Terraform Labs and Luna can be a variable, so we have to wait and see the final voting result.

CEO Kwon plans to hold a governance vote for a week from the 18th, and if a majority agrees, the fork proposal is passed.