TFL Proposes Emergency Response to Counter Recent Collapse of Terra Ecosystem

-TFL has proposed burning the remainder of the UST stablecoin reserves in order to restore community trust in Terra.
-The team would like to burn a total of 371 million UST stablecoins that were deployed on Ethereum as liquidity.
-Do Kwon, Terra’s co-founder, has backed a similar proposition to burn UST and mint more LUNA tokens.
-The reasoning behind it is that burning UST would eventually restore the stablecoin’s parity to the dollar.
-However, this would come at the expense of LUNA, which would be massively diluted as a result.
-TFL’s last proposed solution is to stake 240 million LUNA tokens to strengthen the Terra network against governance vulnerabilities.
-The above emergency actions are now pending community voting.