Terra Proposal 1747 to Burn 1.38 Billion UST, Quietly Passes as Terra 2.0 Steals the Limelight

Summary: Terra proposal 1623 to birth a new chain was not the only proposal undergoing a community vote. The Terra community was also voting on Proposal 1747, suggesting the burn of 1.38 billion UST from the community pool. Terra Proposal 1747 will reduce the outstanding bad debt of the Terra economy and help restore the UST Peg. As the crypto community focuses its attention on the birth of Terra 2.0 due to a successful community vote on proposal 1623, another […]