1 year ago
CryptoSlate spoke to respective Luna validators progressive successful the launch of LUNA 2.0 to get the wrong way of what went connected down the scenes. The validators exclusively told CryptoSlate about Terraform Labs and Do Kwon’s involvement, the aboriginal of LUNA Classic, the rollout speed, and whether LUNA 2.0 was the close move.
We spoke to some verified validators ThorchainMaximalist and PFC, who were contiguous during the “war room” conversations earlier Luna Classic was restarted.
Terra Luna Validator Interview
Akiba (CryptoSlate): Do you consciousness the radical was capable to pass efficiently to get LUNA2 launched?
PFC: We had radical each dealing with monolithic loss, successful aggregate timezones, coming from antithetic places. The TG radical was challenging arsenic determination were aggregate topics going on, and things were discussed/agreed on/and past unagreed connected each portion you were sleeping but arsenic nary 1 had planned a ‘war room’ oregon incidental effect astatine this scale, determination were nary infinitesimal takes, summaries, oregon notes being taken truthful radical knew what happened and astir of america had different things to look aft truthful couldn’t walk each infinitesimal looking astatine it truthful it could person been improved.. but it got the occupation done.
Akiba: Do you consciousness things had to spell done Do Kwon and TFL earlier agreeing?
PFC: Do [Kwon] & TFL were precise hands-off, successful my opinion. (you should beryllium capable to spot this erstwhile you work the logs and signifier your ain opinion)
Akiba (CryptoSlate): Do you judge LUNA Classic has a future?
PFC: As is with nary IBC , and nary quality to stake, I don’t deliberation it has overmuch future. I actively validate connected classic, and volition proceed to bash truthful until it has nary traffic. People are inactive utilizing it, and getting worth from it.. truthful who knows it whitethorn proceed to tally for a while, and get it’s ain radical of radical utilizing it.
Akiba (CryptoSlate): Is determination thing said down closed doors you consciousness should beryllium made public?
PFC: There were a batch of broadside conversations. I don’t deliberation it would person been productive having it made nationalist what radical thought astir however inept definite radical were. From what I was progressive in, astir of the broadside conversations was gossip, oregon imaginable ideas and utilizing trusted members arsenic sounding boards
I was progressive successful a backstage radical that was trying to fig retired who the archetypal validator acceptable was.
I didn’t similar that that speech (and however individuals voted) should person been made public, but it was and it created a ample uproar
Akiba (CryptoSlate): Do you deliberation determination was capable clip to get everything acceptable for a caller genesis concatenation successful the fewer days the radical had?
PFC: I deliberation the prime of who was a validator was rushed. We person already seen radical claiming to beryllium validators from different chains, but had nary affiliation with them (1-2 of them)people with nary acquisition validating were told by their friends to ‘dm jared’ to get a spot.
Akiba (CryptoSlate): Do you deliberation luna 2.0 was the close telephone and was the snapshot timing right?
Only clip volition tell. I similar the thought of the vesting, it has a program to support the assemblage & builders it volition beryllium a antithetic L1 than the aged one, but with USDT coming soon astir of the apps should enactment rather well.
It is wide from PFC’s interrogation that determination were important issues with the process of handling the Terra crisis. He makes a large constituent that the aforesaid radical who were trying to prevention the ecosystem were the ones who had apt mislaid the most. The validators were dealing with losing immense chunks of their nett worthy portion trying to prevention what was near for the community. At least, this is 1 mode of looking astatine it. With those progressive successful redeeming the task besides having mislaid truthful much, it tin beryllium argued that determination volition person been immoderate interior bias guiding their decisions.
There seems to beryllium nary grounds that validators oregon TFL were acting solely successful their self-interest. However, they were moving done the nighttime during a highly affectional time. The ‘war room’ radical had to coordinate a multi-national effort to collaborate connected a decentralized task moving connected fumes with lone a abbreviated interruption each fewer hours. Further, arsenic PFC told us, they did truthful alongside managing different tasks and responsibilities.
Blockchain arsenic an antifragile solution
According to PFC, the aboriginal of Luna Classic is limited, it views the bequest concatenation arsenic unsustainable successful its existent form. However, the Terra situation could person a metallic lining of sorts. While the method by which LUNA was stopped, restarted, and past relaunched arsenic LUNA 2.0 volition beryllium debated for years. However, 1 validator, ThorchainMaximalist, believes the full incidental is simply a bullish lawsuit survey for blockchain technology. He told america directly:
“When Lehman Brothers crashed successful 2008, the satellite was a fewer days distant from not being capable to instrumentality wealth retired of an ATM machine. The regulators had to intervene, inject $700B successful the marketplace straight and a batch much indirectly done AIG and quantitative easing.
The Leeman investors mislaid each of their money. $luna and $ust had a bigger marketplace headdress than AIG. Every different protocol extracurricular of the nonstop ecosystem kept moving arsenic intended. Smart contracts did their jobs and determination was nary large failure. A batch of the infra successful crypto is built connected archetypal principles and is meant to beryllium trustless and antifragile.
The designs is overmuch much resilient and requires a batch little trust. Inside of a week the equivalent of a bankruptcy connection was enactment into question and afloat executed. Around $10B of that wealthiness was fixed to archetypal investors. If fraud was committed by the enactment they volition spot their time successful court.”
The station LUNA insiders uncover info connected Terra’s closed-door meetings including Do Kwon appeared archetypal connected CryptoSlate.
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