Terra’s Dark Knight is back and this time FatManTerra has offered some of the most reprehensible examples of a free fall ecosystem ever seen in crypto. FatManTerra started its thread by saying, “tension is high and great sharks smell blood,” and also revealed a detailed sequence of recent conversations between validators and TerraformLabs.
The ThorchainMaximalist validator recently leaked chat logs from May 12 when the Luna blockchain went down. FatManTerra has now released more images of the conversation from the TFL that show growing disregard for the community that has supported it.
Below is a screenshot that includes Do Kwon, showing him joking around while a billion-dollar ecosystem collapses, causing people to commit suicide around the world.
The “semi-joke idea” mechanism is a term often used as a way of suggesting ideas without damaging an individual’s reputation. If the validator laughs at the suggestion, the proposer has achieved their goal.
Do Kwon’s ideas are objectively absurd given the nature of the situation he finds himself in. Humor can be used as a coping mechanism, but in Do Kwon’s case, he is tasked with stabilizing the Terra ecosystem.
Jared from TFL continued to be nonchalant when answering the question about unlocking the wrapped luna by saying: “wLuna again?”
There’s little or no chance that one of the top TFL developers isn’t aware of Wrapped Luna, and if he did, that would be even more unsettling.
FatManTerra also delves into the chaos of Luna governance. Staking is now closed on Luna Classic, but governance remains active. With over 6.5 trillion tokens, the entire governance system will be overhauled when staking is reactivated.
Terra’s LUNA 2.0 price has dipped below $5, down more than 60% in the past week. The Layer 1 token has hit as low as $4.5 and it is hovering around $5 at the time of writing. Further selling pressure could cause the LUNA 2.0 price to retest the May 28 low at $3.5.
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