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Terra Station will also vote on an important update proposal regarding the Terra #LUNA chain.
➡️ The biggest purpose of this update is that it includes important regulations regarding the TerraformLabs and SEC case in the USA.
🔹The update comes under the name "Phonex 1 preload".
🔹The most important item of the update; "Remove legacy code that prevents qualifying for Genesis event replacement."
⚠️You know the allegations that GENESIS had a hand in the collapse of LUNA and UST. This is one of the most important issues in the court.
🔹When the Phonex 1 is booted; The perceptual software that systematically directs Terra's tokens to staking and generates profit from it will have changed. In this way, we understand that the aim is to overcome another obstacle in the case file, just like in the bankruptcy application.
⚠️This update covers all Terra tokens. (It is important for the situation at the time of the collapse. It does not cover the current #LUNC and #USTC . It covers it as LUNA and UST.)
✅In conclusion, we see that the primary purpose of TerraformLabs is litigation. This is the most important issue for Terra and the work is done within this framework.
🔶 We think that the price of $LUNA, $LUNC and $USTC is not very important for Terra and the Terra Classic team at this stage. Their primary goal is to get rid of the lawsuits and get back on track.
