Summary
After the halt of Terra Blockchain at block 7607789, a lot of valuable bAssets got stuck into Terra blockchain. I believe this to be detrimental not only to the bAsset holders but also to the Terra ecosystem and the reputation of the whole blockchain movement. The decision to halt the Terra Blockchain was made behind closed doors and not via the Terra DAO. We all understand now that Luna and UST will probably never recover it’s value back to what it once was, but this does not authorise blockchain maintainers and validators to completely forget what blockchain is all about: decentralisation and transparency! We need to allow bAsset holders to unlock their assets ASAP instead of reproducing actions of centralised exchanges (that are well known for halting trading or withdrawal of certain tokens).
Motivation
While Terra Blockchain is not resumed, bAsset holders can’t trade, bridge or sell their assets. This is generating unnecessary extra pain and potential losses. I am not even talking about Luna or UST and its death spiral. There are still valuable assets on the Terra Blockchain and we should not jeopardise them. We should allow people to save the rest of their investments, no matter if Luna or UST suffers even more because of it! Terra creators and maintainers should not be egoistical. With stock market crisis and economical uncertainty of the following months, it is fair to let bAsset holders bridge back their bEth, bSol and bAtom tokens to their original blockchains, and do whatever they want with it! They should not be responsible for trying to save whats left of the Terra Blockchain.
Proposal
- Without further waiting (we are talking hours here and not days): Terra maintainers should create blockchain code modification that allow bAssets bridge outflow operations to resume. Even if other Terra Blockchain operations remain halted, blockchain validators should resume bAsset operations!