Terra community member fights back against accusations

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Altcoins
Terra community member fights back against accusations

A community member initially accused by Terraform Labs (TFL) of allegedly refusing to return misallocated airdrops has responded, saying the blockchain organization had inadequate communication strategies.

Jimmy worked hand-in-hand with LUNA

In a statement, Jimmy Le, who uses the username @stablejim on Twitter, fired back at crypto firm Terraform Labs after the organization accused him of refusing to return mistakenly donated airdrops.

Stablejim stated that TFL posted a thread presenting one perspective on the Genesis airdrop occurrence, claiming he was unresponsive and ignoring requests.

The community member said that he had instead been working hand in hand with the company in resolving the issues.

In the thread, Jimmy informed other members that the issue commenced in May 2022, just after Terra’s depeg. Do Kwon, CEO, and founder of Terra(LUNA) had posted a criterion on reviving the organization’s ecosystem via government approval.

Do Kwon then gave details on measures on the type of holders who would acquire LUNA depending on when and how much they held the asset and USTC.

At that time, a new discord server was generated with Terra 2.0 validators to start the new blockchain. According to Stablejim, Jared, a TFL staff member, was the contact in charge of the validator genesis set, files, and timelines. The file determined the amount each wallet would have liquid and vesting LUNA. 

Therefore, no information was shared on distinctly indexing the accounts or distributing multisig funds. In this case, validators acquired the final Genesis file a day review before the start of the project.

On May.28th, validators reached a consensus and began generating blocks for LUNA.

Subsequently, Eezan (a worker at LUNA) informed community members that they would acquire fatty airdrops in their wallets, whereby Jimmy didn’t request the tokens and was unaware until he saw the message on Discord. Terrence then informed users to return LUNA to save the community funds.

Communications on using airdrops as rapid grant program

Jimmy added that he had to communicate with Terrence as if he could utilize the airdropped tokens as a rapid grant program. This happened during the emergency builder allocation distribution. Community members had debated on the protocol’s conflicts, interests, and merits without a meaningful total value locked.

Stablejim followed TFL requests and transferred the liquid portion of the airdrop ($ 1-1.5 million USD) to the specified multisig.

As per Jimmy, all of the airdropped tokens had never been sold or undelegated. He also discovered that the chain upgrade didn’t reset his vesting balances to the community pool. However, it allowed a feature that enabled the manual transfer of vesting tokens in the pool.

The user was able to inform Denton, TFL tax commission, regarding the return procedure. Nonetheless, after several confrontations with Denton, there were still no signs of revival.

Therefore, he sent a letter suggesting the determination of the airdrops. To him, he participated in all talks with Terra in return for the airdrops, yet Terra Labs posted that he needed to adhere to the specified instruction.

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Wayne Jones

Wayne is an all-rounded cryptocurrency writer who has written for several publications in the fintech industry. Having graduated from the University of Essex Colchester, he developed a passion for blockchain technology and has been curious about how the blockchain can modify the traditional financial industry.