The Terra Luna community should reject the Luna fork for now, according to a developer involved in the Ethereum fork.
With the Terra Luna vote now ongoing to decide whether a hard fork should go forward, Dexaran, a programmer who was a core part of the Ethereum Classic team and split from Ethereum, has said Luna must learn from the issues Ethereum faced when it split.
This comes as Do Kwon’s plan for a Luna recovery divides the Terra community. Many instead favour a Luna burn instead.
Ethereum Classic Lessons For Terra Luna
“This action will not solve the current issues and will, instead, lead to split a strong and united community,” said Dexaran, speaking as part of the Callisto Network.
In a post on the Terra Research Forum, Dexaran noted the similarity between Ethereum’s DAO hard fork and the current Luna fork plan in suggesting it does not go ahead.
“[The Ethereum Foundation] gave the community an extremely short time frame to engage in a pseudo-voting process without a proper description and discussion around the topic,” he said.
“As a result, a large group of the community (including myself disagreed with the actions of the Ethereum Foundation and supported the original chain, refusing the hard fork.”
He said that “a lack of consensus” between the community and developers caused the Ethereum split, not the actual proposal. As such, he called for further investigation and evaluation of alternative solutions.
This echoes what the developer said on Twitter relating to a fork proposal.
Under the current hard fork proposal, a new Luna will launch. It will leave behind the current Terra network and see the creation of Luna Classic.
TerraForm Labs CEO Do Kwon also compared the Luna crypto crash to the DAO. The “UST peg failure is Terra’s DAO hack moment,” he said. “A chance to rise up anew from the ashes.”
Ethereum vs Terra Luna
Dexaran also noted several differences that he believes make the Luna fork less of a priority than the Ethereum one.
“[The Ethereum fork] approach is justified by a time-limiting factor that pushed Ethereum to make a rushed decision,” he said. This was referencing the DAO hack. The hacker had a time-lock that, when finished, would allow them to withdraw the stolen funds.
“In the case of Luna, there is no such time limit and there is a good reason to stick to a more thoughtful solution development process.”
Dexaran’s full post also details other issues he has with the fork, including the removal of the stablecoin from Terra. He also took an issue with how the Luna Foundation Group attempted to protect the UST peg, claiming further transparency is needed relating to the transactions.
Despite such criticisms from the community, the fork proposal vote is currently 80% in favour of a new chain. Many in the Terra development community, including the Terra Builders Alliance, believe it is vital to saving the Terra ecosystem.