I agree we need governance and LUNC is a governance token. We need a voting mechanism in place that all holders have a say. What that will look like is hard to say, at least until stability is brought. Safeguards would need to be put in place to prevent 51 attacks etc. We need a bullet proof governance system.
Take a look at my plan and lets work together as both plans can work together.
I agree that TFL & LFG along with Do Kwon cannot remain in charge of the Classic ecosystem. There are 2 dangerous obstacles that they will have to somehow avoid.
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As you said bankruptcy. They lost money too a lot. Make no mistake, this new coin is set to help them recover, not the community. If it fails then everything they own evaporates. Add to that the mountains of lawsuites coming their way.
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Legal issues. He may actually end up incarcerated. Assets of LFG & TFL may be seized globally and then the tokens will trade down to 0 and become another abandoned project.
That said even if they file bankruptcy, we can not assume their IP (Name and trademarks). However if/when they file bankruptcy they will then have a firesale on assets including their IP. That would be the olny way to get it.
I also agree with the need to revamp the governance system.