Controversies Surrounding OPNX

While OPNX strives to establish its presence in the crypto market, its founders have faced criticism and legal concerns. The founders have reportedly failed to respond to a subpoena in the United States, raising questions about their transparency and accountability.

OPNX took inspiration from Twitter messages allegedly sent by various usernames attributed to an analyst named FatMan Terra. According to supporters of Terra, these messages contained false information that contributed to the collapse of the Terra ecosystem.

Read Also: Expert Forecasts 387% Surge in Terra Classic (LUNC) Price. Here’s the Timeline

In response to this controversy, OPNX has decided to create “FatManTerra Justice Tokens” as memecoins. The exchange plans to distribute these tokens to LUNA and LUNC holders as a way to address the alleged damage caused to the Terra ecosystem. Although the distribution method hasn’t been disclosed, the tokens themselves will hold no intrinsic value.

We are on twitter, follow us to connect with us :- @TimesTabloid1

— TimesTabloid (@TimesTabloid1) July 15, 2023

Inclusion of Rollbit (RLB) Users in the Airdrop

OPNX has extended its airdrop initiative beyond Terra holders. Users of Rollbit, a platform in which FatMan Terra claims to have upcoming confidential information, will also receive a distribution of the memecoins. This move comes after the Rollbit founder revealed the messages FatMan Terra shared under different usernames.

Read Also: Terra Classic Proposal for Community-Owned Wallet Passed, LUNC and USTC Surge

Accusations of Fraud by FatMan

In response to the announcement on Twitter, FatMan, the Terra ecosystem whistleblower, accused OPNX of perpetrating a new fraudulent scheme under his name. These claims add fuel to the already existing controversies surrounding OPNX and highlight the contentious nature of the airdrop campaign.

There's no way you guys are turning this into a scam too lmao

— FatMan (@FatManTerra) July 30, 2023

As the distribution of the “FatManTerra Justice Tokens” approaches, the crypto community eagerly awaits further details regarding OPNX’s plans and the implications for Terra ecosystem supporters.

Follow us on Twitter, Facebook, Telegram, and Google News

The post OPNX Announces Airdrop for Terra (LUNA) and Terra Classic (LUNC) Holders, FatMan Reacts appeared first on Times Tabloid.

As explained in a blog post by Edward Kim, the author of the 1.2% LUNC tax burn proposal, the new proposal aims to lower the taxes from 1.2% to 0.2% and take 10% of the seigniorage collected to the community pool at the end of the epoch.

In the blog post, he explained the concept of seigniorage, how it works and why the Terra Classic community needs it.

Kim said the proposal implies that the members of the community are voting to burn 90% of the total tax during the epoch. He pointed out that this burn is not limited to the on-chain tax, but also includes LUNC tokens that are manually sent to the burn wallet by members of the community.

So, Kim said, “If this passes, you should not be alarmed if you see a green “mint” candle on the Lunc burn chart. This is simply the mechanism by which seigniorage works.”

He also stated that he had once written about how funds need to be raised for the growth and development of the chain. For this reason, he said he’s fully supporting the proposal’s 10% seigniorage clause.

“A community pool can be used for emergency funds, attracting dApps and projects back to the chain, and paying developers to improve the chain. I vote yes for the 0.9 parameter change.”

It’s worth mentioning once again that the Terra Classic Proposal 5234 is meant to achieve a lower tax rate in order to encourage higher on-chain volume.

What Other Terra Classic Community Members Are Saying about the 10% Seigniorage

As expected, not all Terra Classic community members see the new proposal as a good idea, especially the clause of collecting 10% Seigniorage to reward developers, as insinuated by a controversial member of the Terra community, who is pseudonymously known on Twitter as FatMan.

In response to Kim’s opinion, FatMan tweeted, “Giving 10% of the tax to yourself is an even worse idea than the burn tax. Devs absolutely deserve to be paid – either through donations or via formal community pool spend proposals – but automatically redirecting 10% of every burn to “contributors” is authoritarian & wrong.”

Giving 10% of the tax to yourself is an even worse idea than the burn tax. Devs absolutely deserve to be paid – either through donations or via formal community pool spend proposals – but automatically redirecting 10% of every burn to "contributors" is authoritarian & wrong.

— FatMan (@FatManTerra) October 14, 2022

FatMan’s assertion prompted Kim to swiftly clarify that the 10% does not go directly to developers, but to the community pool and must be voted on via governance for distribution.

It was obvious in the comments that only FatMan has a major problem with the proposal as it has always been in the past.

Past records show that he was never in support of retaining LUNC as a Terra Classic native token. He clearly wanted LUNC to be abandoned. There was a time he tried to prove that the embattled digital token will never reach $0.01.

Follow us on Twitter, Facebook, Telegram, and Google News

The post New LUNC Proposal to Reduce 1.2% Tax to 0.2% Gains Traction But 10% for Terra Classic Devs Raises Questions: Details appeared first on Times Tabloid.

Two Terra Classic (LUNC) Burn Proposals Launched and Passed

To put their determination to work, a group of Terra investors launched and passed two separate Terra Classic (LUNC) burn proposals about a week ago.

Read Also: Here’s How Wrapped Luna Classic (wLUNC) Holders on Ethereum Will Receive LUNA 2.0 Airdrop, Including Coinbase Users

The first proposal targets to burn 1.2% of all LUNC transactions (buys and sells). This implies that 1.2% of LUNC tokens bought or sold will be burned in order to ignite a notable increase in demand. This proposal needs the help of exchanges.

The second proposal is targeted at distributing 50% of Terra Classic (LUNC) transaction fees to the community pool, in which 35% will be burned, 10% airdropped to developers, and 5% for Terra Classic development. The implementation of this proposal will not be on exchanges because the transaction fees can only be deducted from the Terra native chain.

The response of the community members and their votes show that the majority support the LUNC revival plans. However, FatMan thinks that the community members who want to revive LUNC are obviously zealous, but things may not end up as planned.

Read Also: Number of Terra Classic Holders Surges 525% in a Month As Investors’ Interest in LUNC Grows

FatMan Thinks LUNC Burn Proposals and Plans Will Not Work

FatMan, a member of Terra Research Forum, who has been outspoken about the happenings within the Terra community since the crash of LUNA, has recently stated that the LUNC burn plans won’t be able to push its price up to $0.01 because the on-chain volume of the token has been killed via the creation of LUNA 2.0, which would make major exchanges to distance themselves from it.

FatMan tweeted, “I don’t know who needs to hear this, but some LUNC buyers unironically think like this, so – facts: – LUNC will never hit $0.01 no matter how much you burn – Burning will have very little price impact due to dead on-chain volume – Major exchanges will never participate *braces*.”

I don't know who needs to hear this, but some LUNC buyers unironically think like this, so – facts:
– LUNC will never hit $0.01 no matter how much you burn
– Burning will have very little price impact due to dead on-chain volume
– Major exchanges will never participate

*braces* pic.twitter.com/QamWp69haO

— FatMan (@FatManTerra) June 15, 2022

In the same thread, he wrote, “Let’s reiterate with maths. Assume Binance burns their entire 2.17T (2,170,000M) LUNC wallet, a bigger burn than all of the proposals, bringing the supply down to 4.37T. A $0.01 LUNC will require a $43.7b market cap – 109.25x higher than the current market cap Not possible IMO.

“The people telling you that you can ‘burn’ a coin with no product and push it to a higher all-time high market cap than LUNA at its peak are lying to you. They are feeding you with irresponsible false hope and it does far more harm than good. Be rational about your positions.”

Read Also: Here’s How This New DEX Wants to Burn Terra Classic (LUNC) After Do Kwon Failed to Listen to Users

In response to his opinion, a Terra community member, who is a supposed holder of Terra Classic (LUNC), urged other members to steer clear of FatMan’s stand about LUNC burn plans, stating that all he does is to spread FUD.

The user pointed out that “@VegasMorph AND THE 2 TEAMS WORKING HARD TO BRING EVERYTHING BACK. INCLUDING DEVS AND VALIDATORS. @orion_money IS EVEN WORKING WITH THE COMMUNITY.”

In response, FatMan wrote, “It is incredibly irresponsible of you to give false hope to people who have already lost everything. Run the numbers yourself. LUNC has no chance of hitting a $40b market cap. A ghost chain with no product won’t eclipse Solana & Cardano purely thanks to ‘burns’. You need demand.”

It is incredibly irresponsible of you to give false hope to people who have already lost everything. Run the numbers yourself. LUNC has no chance of hitting a $40b market cap. A ghost chain with no product won't eclipse Solana & Cardano purely thanks to 'burns'. You need demand.

— FatMan (@FatManTerra) June 15, 2022

Many other Terra community members also berated FatMan, terming his opinion as a mere distraction and unnecessary FUD.

Follow us on Twitter, Facebook, Telegram, and Google News

The post Here’s why FatMan Thinks Terra Classic cannot hit $0.01 Despite LUNC Burn Plans appeared first on Times Tabloid.

In a thread of tweets on the 7th of June, FatMan, the pseudonymous member of the Terra Research Forum that provides research, updates, and analysis on the Terra situation as it unfolds, stated that all the LUNA variant holders, including Wrapped LUNA Classic on the Ethereum network, will receive the LUNA 2.0 airdrop like others, but at an unspecified date.

Read Also: Exposed: Do Kwon and Terraform Labs Hold 42 Million LUNA in Secret Wallets despite Claims of Holding None

According to FatMan, the Terra team of developers is currently indexing all the blockchains that power the LUNA variants.

The Terra community whistleblower pointed out that the airdrop will be based on the snapshot blocks from the original proposal. This implies that whoever buys wLUNA now won’t receive the LUNA 2.0 airdrop.

FatMan tweeted, “Since I get asked about wLUNA so much, here’s an update for everyone. All of these LUNA variants (including Wrapped LUNA Classic on Ethereum) will receive the LUNA 2 airdrop at a later date – Terra devs are currently indexing all of these chains – it’s hard work!

“The airdrop will be based on the snapshot blocks from the original proposal, so buying wLUNA now will not entitle you to the airdrop. Holding wLUNA does *not* entitle you to 1:1 redemption of new LUNA. Rather, you can sell wLUNA on Uniswap (roughly worth the same as LUNC).”

The airdrop will be based on the snapshot blocks from the original proposal, so buying wLUNA now will not entitle you to the airdrop. Holding wLUNA does *not* entitle you to 1:1 redemption of new LUNA. Rather, you can sell wLUNA on Uniswap (roughly worth the same as LUNC). (2/2)

— FatMan (@FatManTerra) June 7, 2022

wLUNC Holders On Coinbase Will Receive the Airdrop

According to a user who reacted to the update, “Most of the $wLuna is held by @coinbase and they’re not part of the airdrop.”

In response to the user’s concern, FatMan said all wLUNA holders on Coinbase are part of the airdrop program. However, the distribution of the tokens solely depends on Coinbase’s decision.

Read Also: LUNA Can Now Be Sent From Terra 2.0 to Ethereum via a Newly Launched Terra Bridge V2

FatMan tweeted, “wLUNA holders on Ethereum will get the airdrop. This includes Coinbase. Whether Coinbase decides to pass their airdrop onto users or not is something that only they can answer.”

wLUNA holders on Ethereum will get the airdrop. This includes Coinbase. Whether Coinbase decides to pass their airdrop onto users or not is something that only they can answer.

— FatMan (@FatManTerra) June 7, 2022

What is Wrapped Luna Classic (wLUNC)?

Wrapped Luna is a token designed to represent Luna on the Ethereum blockchain. It’s a different ERC-20 token made to track the value of Terra (LUNA).

Additionally, wLUNC is designed to enable Luna holders to trade, hold, and take part in decentralized finance (DeFi) on the Ethereum network.

Follow us on Twitter, Facebook, Telegram, and Google News

The post Here’s How Wrapped Luna Classic (wLUNC) Holders on Ethereum Will Receive LUNA 2.0 Airdrop, Including Coinbase Users appeared first on Times Tabloid.

In a tweet on the 6th of June 2022, FatMan said the claim of Do Kwon and Terraform Labs of not holding any Terra (LUNA 2.0) is certainly untrue. He said the firm and Kwon currently hold at least 42 million LUNA tokens.

Read Also: Here’s How This New DEX Wants to Burn Terra Classic (LUNC) After Do Kwon Failed to Listen to Users

It can be recalled that the firm, on the 25th of May, claimed in an official announcement that “The removal of the wallets from the airdrop whitelist will make Terra a fully community-owned chain. We believe this is an important step to empowering our ecosystem.”

However, the recent FatMan allegation seems to make the declaration untrue. The popular Terra whistleblower also shared a screenshot of the tweet posted by the Terra team, in which the community was assured that wallets associated with Terraform Labs (TFL) and Luna Foundation Guard (LFG) would be excluded from the LUNA airdrop whitelist.

FatMan tweeted, “Do Kwon has stated numerous times that TFL has zero new LUNA tokens, making Terra 2 ‘community owned’. This is an outright lie that nobody seems to be talking about. In fact, TFL owns 42M LUNA, worth over $200m, and they’re lying through their teeth.”

Do Kwon has stated numerous times that TFL has zero new LUNA tokens, making Terra 2 'community owned'. This is an outright lie that nobody seems to be talking about. In fact, TFL owns 42M LUNA, worth over $200m, and they're lying through their teeth. (1/6) pic.twitter.com/D1HIWpAWHG

— FatMan (@FatManTerra) June 6, 2022

Do Kwon and Terraform Labs Have Other Secret Wallets Holding Millions of LUNA Tokens

In the same thread of tweets, FatMan revealed that Do Kwon and Terraform Labs have other secret and shadow wallets holding at least 42 million LUNA tokens. He also shared the links to the wallets. Two of the wallets were associated with Do Kwon, while the remaining three allegedly belong to Terraform Labs.

Read Also: Terraform Labs Employee: Do Kwon Launched Terra (LUNA) Despite Warnings of Possible Collapse

FatMan revealed:

“Do used his shadow wallet to approve *his own proposal* through governance manipulation (TFL is not supposed to vote), told everyone it would be a community-owned chain, and then gave himself a nine-figure score. These are just the verified wallets – there are many others.

“In the investing landscape, it’s important that retail receives symmetric information, so understand the facts and make of this what you will. Exercise caution and know what you are buying. These people have no moral fibre. They will lie for money at every possible turn.

“TFL Dawn (11.28M): https://finder.terra.money/mainnet/address/terra1uza3c9hpnp50np7t8ph5s5vqc0alggvv57q7zu TFL shadow wallet (2.01M): https://finder.terra.money/mainnet/account/terra13n0lynp9s8ks8gm3nzcgakg0dl8athnu8xscde TFL MM (0.72M): https://finder.terra.money/mainnet/address/terra1x04xgtwlw72gtfzrq7nfwmr6eexla8ecljw28z Do Kwon shadow wallet #1 (19.69M): https://finder.terra.money/mainnet/address/terra1wqwfwh797tf77e2xpvy9xx082pwpxxlm9x4xws Do Kwon shadow wallet #2 (9.11M): https://finder.terra.money/mainnet/address/terra1e82da9n6jz4t42eh0wn5hrt6hdmf7jyq8sufkp Total: 42.81M LUNA.”

Follow us on Twitter, Facebook, Telegram, and Google News

The post Exposed: Do Kwon and Terraform Labs Hold 42 Million LUNA in Secret Wallets despite Claims of Holding None appeared first on Times Tabloid.

A whistleblower, identified on Twitter as FatMan, who provides key updates on the Terra situation as it unfolds, has claimed that he was able to know some deeply troubling things about the attack on the ecosystem from several whistleblowers that want to remain anonymous. He also shared the reason why smallholder refunds may not happen.

Read Also: CZ Explains Why Binance Resumes Terra (LUNA) Trading Despite Collapse

In a series of tweets on 23rd May, FatMan claimed that he has lots of genuine information about the involvement of some individuals and firms, including the Terraform founder Do Kwon, in the collapse of the blockchain.

FatMan tweeted, “In the past 48 hours I have been contacted by several whistleblowers. These people would like to and will stay anonymous. I have learned some deeply troubling things and there is a lot more to come – this is just the very beginning. Here is some of what I can tell you.”

In the past 48 hours I have been contacted by several whistleblowers. These people would like to and will stay anonymous. I have learned some deeply troubling things and there is a lot more to come – this is just the very beginning. Here is some of what I can tell you.

— FatMan (@FatManTerra) May 23, 2022

Summarizing what he knows, FatMan wrote further:

“@stablekwon I know about the bailout from Jump in May 2021 and I know exactly how much you owe them every month in LUNA (hint: how many zeroes in a million?).

“@jump_ I know exactly what you did to manipulate retail into losing billions on UST but especially LUNA.

“@KanavKariya I know who controls you behind the scenes (B); I know about your Slack group having a 14 day retention window.

“@SBF_FTX I know about the 30% Serum handshake deal with Jump and what you did to retail investors after.

“There is far more that I cannot say, but know that I know, and know that justice is coming, because this time I think you went too far – this time you killed people – someone has to fight for them. If I go, someone will take my place. This is nothing – just the start. Go time.”

Read Also: Do Kwon Amends Terra 2.0 Proposal When Voting Still in Progress. Aggrieved Members Right All Along?

Do Kwon Doesn’t Want To Relinquish Power

In a separate thread, FatMan said information received from a verified insider says that Do Kwon knows the importance of the builders, but remains adamant because he does not want to relinquish power.

Quoting the whistleblower, he wrote, “Do Kwon knows the builders are important, but it looks like he doesn’t want to relinquish control. Three major protocols were strong-armed into supporting the new fork and many of us don’t like it.

“Build teams negotiated a 25% stake in Terra 2 but were forced to accept a 10% compromise and were cut out if they didn’t support it publicly.”

According to FatMan, the Terra community builders are an amazing and talented set of people that don’t deserve any of what happened.

Read Also: Mike Novogratz Breaks Silence on Terra Collapse, Speaks on Galaxy Digital’s Investment in LUNA

Why Smallholder Refunds May Not Take Place

There’s a report that says the Korean police have found indications that funds were internally embezzled, which brought about an attempt to freeze Luna Foundation Guard (LFG) assets.

According to FatMan, who claimed that this Korean police’s move could be the official confirmation of what his group of whistleblowers has suspected, all LFG funds were entirely controlled by Terraform Labs.

FatMan says further, “If LFG assets are frozen by the police too soon, the small holder refund that they guaranteed may not take place. Let’s hope bureaucracy drags its feet on this one, at least for the time being. I have been contemplating several matters (albeit sleep-deprived) – more to come soon.”

If LFG assets are frozen by the police too soon, the small holder refund that they guaranteed may not take place. Let's hope bureaucracy drags its feet on this one, at least for the time being. I have been contemplating several matters (albeit sleep-deprived) – more to come soon.

— FatMan (@FatManTerra) May 23, 2022

Follow us on Twitter, Facebook, Telegram, and Google News

The post Luna Team Exposed: Why Smallholder Refund May Not Happen appeared first on Times Tabloid.