Musviq Alizade
887 posts
1/ The prevailing peg pressure on $UST from its current supply overhang is rendering severe dilution of $LUNA. The primary obstacle is expelling the bad debt from UST circulation at a clip fast enough for the system to restore the health of on-chain spreads.
The patch release is out: github.com/terra-money/co… Delegations will be disabled once block production resumes. The network should go live once 2/3 of the voting power comes online. An update will be provided accordingly.
The Terra blockchain was officially halted at a block height of 7603700. lcd.terra.dev/blocks/latest Terra validators have decided to halt the Terra chain to prevent governance attacks following severe $LUNA inflation and a significantly reduced cost of attack.
