Over two weeks after the Terra LUNA and UST fallout, a whistleblower dubbed “Fatman” published an alleged chat log between the project’s co-founder Do Kwon, Terra validators, and infrastructure providers from the Terra blockchain community. If the chat log is legitimate, Fatman claims the document proves over 50 people “knew about the [network] halt before it happened.”
An anonymous source has provided me with the missing pages from the internal validator chat. The link is in the next tweet. Make no mistake – a chain halt was necessary – but it would be interesting to see if anyone in here maps to the big LUNA buys that happened right before.
The “Terra Rebirth League” discussion shows that participants are well aware of LUNA being minted into infinity. One individual asks if all the validators were present during the chain halt discussion. “So we agree to halt the chain?” one individual asks. “[Are] all the validators representatives here?” the person continued. One validator said he already stopped his node and someone scolded him by saying: “This is not how its done. Please restart it.” While more validator representatives were added to the discussion there’s a lot of confusion and arguing happening.
“Can someone tldr me what the advantage of halting the chain is?” a person in the chat room asked. “Hello everyone, what are we doing here?” another individual asked.
TFL co-founder Do Kwon is not very active during the conversation but is seen adding specific Terra community members to the chat room and making some comments here and there. Some individuals had shown concern for the Terra community. “I think halting makes sense,” Do Kwon says at the 11:00 a.m. section of the chat log. At some point, someone says they need to get TFL’s opinion and at 11:05 a.m. an individual said: “TFL is not making any statements rn. They want to minimize all further liability.” In addition, when an individual asked about all validator representatives needing to be present, one person discloses that only the top five validators are needed to halt the chain. One participant writes:
We need the top five to halt. Rest doesn’t matter really.
The individual also left a screenshot of the top five validators at the time Terra blockchain participants were scrambling for escape routes. According to one person in the chat log, all the top five validators were present during the “Terra Rebirth League” discussion. During the conversation, people discussed what block height would be the best time to stop block production. The ostensible chat log published by Fatman shows that Do Kwon is a little more active by trying to figure out what time the chain will halt, and whether or not a patch will be ready. At the 11:27 a.m. mark, Kwon writes:
Has the chain halted?
According to a verified TFL insider, the entire core team working on Anchor, including the creators of the Anchor whitepaper, quit TFL before Anchor’s release because of Do’s adamant decision to force an unsustainable 20% interest rate that they knew may result in a collapse.
What do you think about the alleged “Terra Rebirth League” chat log discussion? Let us know what you think about this subject in the comments section below.