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Terra Validators Halt Blockchain for Second Time to Plot Next Steps
The blockchain was halted earlier Thursday after the governance token LUNA fell in price.
Terra validators pulled the plug (at least temporarily) on their embattled network late Thursday New York time, Terra’s official Twitter account tweeted, as they searched for answers to a crisis that’s demolished UST and LUNA prices, on-chain stability and billions of dollars in wealth.
“The Terra blockchain has officially halted at block 7607789. Terra Validators have halted the network to come up with a plan to reconstitute it,” the tweet said.
STORY CONTINUES BELOW
The Terra blockchain has officially halted at block 7607789.
— Terra 🌍 Powered by LUNA 🌕 (@terra_money) May 13, 2022
Terra Validators have halted the network to come up with a plan to reconstitute it.
More updates to come.
The project’s Discord community was despondent in response.
“Whatever they do, they need to bring in the A team, people from the big leagues that know what the f*ck to do in a crisis,” said Kenboi_Ninja in the #general chat (where users have been restricted to one post per hour). “We need Sean Connery from The Rock level nerves and determination rn. Anything is possible in the space with the right people, good ideas and capital. Make it happen Terra. See ya in an hour.”
LUNA was priced at around $0.008 at the time the network was halted. UST was at $0.19.
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
