Terra Chain Resumes Operations After 2-Hour Pause on Block Production
-Terraform Labs has announced a halt on block production to prevent governance attacks on the network as part of its emergency action plan.
-Terra Chain resumed operations just two hours after Terraform Labs announced a halt on block production.
-The UST stablecoin had de-pegged from the U.S. dollar, wiping off over 99 percent of LUNAs value.
-TFL has now initiated community proposals under emergency actions to contain the debacle.
-The proposal to burn the remainder of UST in the community pool has been initiated, and is currently in voting.
-With six more days left on the Community Pool Spend Proposal, the majority of the votes are in favor of its application at press time.

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