Hey guys, TFL just had a official announcement.

As a validator and the contributor of terra, I got disappointed by their move.

After the attack to Terra/Luna started and UST peg started to break, the people who knows about terra mechanism will notice that this is not solvable.

I was one of them, but if I share my opinion on this, this might break community more fater and harms the entire crypto scene so I need to work on the way I think minimize the victims.

Also, if network halts it will also cause same problem, I did my best to maintain the network and communicate with community to get some plan for it.

Also, I shared my own opinion to save terra community, while other community member invited me to telegram group and also invite several other validators. This group’s name is “Terra Rebirth League” - it was originally “Terra validator league” but it changed.

In this TRL chat room, there were many ecosystem participants including TFL guys. They were actively talking about halting the chain to stop the death spiral.

Problem here is halt itself is done by validators but this halt itself damages the centralized exchanges(e.g binance) and as this intentional halt damages their business, it can cause serious lawsuit with the exchanges. As most of the validators knew this, they prepared the halt and waiting for the TFL’s final call.

The initial halt was officially confirmed by TFL using the term “Confirm” from TFL. Also get blessing from Do Kwon. Second halt also “Confirmed” considering technical problem.

The thing is, we didn’t had a future plan. But what validator mostly agreed and trying to do is minimize the damage of other chains, let ppl to withdraw their bridged asset to their original chain.

(personally think this rerun is completely making terra chain’s internal value to 0)

I actually feeling something is going weird while we are executing the restart of terra chain. TFL didn’t actively engaged on the discussion, I felt they are trying to avoid the term “Confirm”. They indirectly made their voice using the terms like “we are ready”, “support validator’s opinion”.

A lot of Validator request confirm and announcement from TFL, the one dev at TFL announce the patch information on discord and as many ppl think the final announcement should be done after the chain goes live, we didn’t make announcement ourselves and waited for TFL’s official announcement.

And the announcement that they made just know sound like the chain restart was originally the validator’s opinion. YES, they didn’t use the term “Confirm”. I felt betrayed of my wasted last 3days without sleep.

After that, there are new discussion without TFL has been started with some validators and developers. It was hardfork driven by community to save community. Everyone in this industry is in a very bad situation. But the Terra community has the most victim. There are many ppl that Terra itself is their life and their job. We are actively discussing to how can we compensate them properly using the hardfork that we are trying to make.

One developer twitted about this idea, right after that, the official TFL twitter retwitted it. I feel like this whole movement will be used like the TFL is now decentralized to community and still working within the community. Maybe this can be used to mitigate their legal risk?

TFL, let other community member to remember your last memory as doing your best to be responsible for this. And if you guys have remaining asset, be responsible for all the expected following lawsuits and leave the terra. That the only way you guys can be ask forgive to the community.