Terra isn’t dead: the network is back up and running on a new blockchain, focusing on a more decentralized governance model. The community is making no attempts to revive its recently failed TerraUSD (UST) stablecoin. It has, however, re-launched a new version of the LUNA governance token, restarting its supply at 1,000,000,000 tokens. Here are the facts on the new blockchain, why it was launched, and the new token’s airdrop/ distribution. Background on Terra 2.0 Terra 2.0 (now known formally…
Nayib Bukele – President of El Salvador – has canceled his scheduled appearance at the Bitcoin 2022 Conference in Miami. That means he won’t be delivering a keynote speech originally slated for Thursday.
- Many were expecting the President’s appearance, considering his debut as a Bitcoin figurehead at last year’s conference. At the time, he had revealed his decision to make Bitcoin legal tender in El Salvador through a video presentation.
- However, he issued a letter to the conference today saying wouldn’t be able to come due to “unforeseen circumstances” in his home country.
- These “circumstances” most likely surround the wave of gang violence plaguing El Salvador in recent weeks. Over just 11 days, nearly 7000 gang members have been captured by the government, during an unprecedented state of emergency.
- The president stated that “a lot has happened” since the last Bitcoin conference, and that he’d hoped to make another big announcement. He said it would have been “another small contribution in our fight for the liberation of money.”
- The president also praised the conference as a “fight against ignorance, centralization, and dogma”.
“Everything happens for a reason,” he concluded, “Hopefully we’ll be able to learn soon why this had to happen this way.”
The Impact on Bitcoin 2022 Conference
- The announcement comes shortly after El Salvador had to postpone its Bitcoin-backed bond offering, due to pension-reform prioritization.
- It also coincides with the presentation of a recent US bill to mitigate dangers from El Salvador’s Bitcoin law. Bukele interpreted the bill’s presentation as a sign of fear from America.
- The President has been highly critical of America in the past, and other players that would criticize his country’s Bitcoin adoption. He mocked the International Monetary Fund in February when it requested that he remove Bitcoin as legal tender.
- Even without Bukele, this year’s Bitcoin conference includes a plethora of major Bitcoiners including Samson Mow and Jack Mallers.
The former claims to have been working on “Bitcoin nation-state adoption” in other Latin American countries. Meanwhile, Mallers is rumored to be partnering with Apple for some kind of Bitcoin-payment integration.