Changpeng Zhao suspected LUNA 2.0 found suspicious
Binance CEO CZ has expressed his doubts about the launch of the Terra blockchain and new LUNA tokens after the latest failure.
from the report of coin telegraph Binance CEO Changpeng Zhao, also known as CZ, has expressed skepticism about plans to revitalize the Terra ecosystem and the launch of the new LUNA 2.0 token, said Zhao Changpeng.
“I try not to predict what the community will do. which many people suspect which I am one of them. And we also want to ensure that people have constant access to liquidity. We have to support the recovery plan, which I hope will work,” CZ said in an exclusive interview with Cointelegraph.
Following the collapse of TerraUSD (USD), the stablecoin ecosystem Terra CZ has criticized its team for failing to properly handle the crisis and pointed to the shortcomings of the project that led to the collapse. Still, Binance has. Actively participate in Terra's recovery plan by hosting an airdrop of new LUNA tokens.
As CZ pointed out, despite widespread skepticism about Terra's re-launch, Binance was obliged to assist users affected by the LUNA crash, he explained.
However, Terra's failure should serve as a warning for projects that rely on an unsustainable business model to follow. "Proactive motivation," as he pointed out. Crypto-system structures such as Terra provide high yields to attract people in the hope that when enough users are available. and good coin handling It will be able to generate profits for coin holders.
“We should look at these as a basis for measuring more income. Generate more than just an incentive payment,” CZ points out.
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