Let me explain where
#TerraClassic is right now.
We are a chain that went through one complete collapse already, costing investors millions of dollars in the process.
Governance is now controlled by a small minority, with at least 2 different groups controlling likely 6 validators or more.
These Validators veto what they don't personally like, yet have no problem "breaking the rules" when it benefits them.
Governance is broken.
We have vetoed a security audit, choosing to leave the investments of thousands at risk, because we will not allow it to happen unless a company is willing to do the work with no payment up front.
Yet these companies have watched this small group of Validators veto anything they don't like.
So, tell me, how many companies are going to trust that these Validators will follow through with approving payment?
Why should they do this work when they know these Validators may very well veto any future payment simply because they currently have a monopoly on the voting power?
The answer is none.
And seeing that the veto is continually used to control governance by this small minority, how many new investors do you think will view
#TerraClassic as a good investment?
Also, none.
We need to fix governance, and we need to streamline PPJ in a way that lends to common sense practices.
$LUNC $USTC #LunaClassic