Terra Luna Classic, the original blockchain abandoned after the 2022 collapse of Terraform Labs, persists through a dedicated yet fractured community. A Portuguese head brewer known as Vegas is a leading figure who lost approximately $50,000 in the crash and now works around the clock to support the network. Despite internal power struggles and accusations of scamming, community members continue building projects like the Juris Protocol and maintain hope for a historic comeback, even as the LUNC token remains down 99.99% from its all-time high.
The Terra Luna Classic blockchain was forked and abandoned when Terraform Labs founder Do Kwon attempted to save his crumbling empire after a $40 billion collapse. Kwon has since been convicted of fraud and sentenced to 15 years in prison, but the decentralized network lives on through global supporters.
A leading community figure known as Vegas told reporters he had approximately $50,000 invested in Terra at the time of its collapse. “I think there’s still hope on the chain. I think there’s massive potential for this chain to be a top 10 chain again,” he stated.
When reporters joined the Terra Classic Telegram group, they received several direct messages accusing Vegas of being a scammer. “Decentralization is amazing, but at the same time, it is cruel because people want to take the spotlight,” Vegas explained, detailing physical problems including police being called to his home and work.
After the collapse, a group called the Terra Rebels formed on Discord, with moderator K_raucks creating a support network. “A lot of people needed someone to talk to. And it’s anonymous on these spaces, so we allowed the space for them to express these feelings,” K_raucks said.
The community’s first rebuilding step was proposal 3568, which introduced a 1.2% burn tax on all LUNC transactions. This proposal was authored by Vegas and became a source of criticism from detractors who claimed it was merely a marketing move.
Tensions flared in December 2022 when the Terra Rebels received $150,000 from the community pool to separate wallet infrastructure, leading to accusations of centralization and the group’s disbandment. “If you see someone who you think is winning money and profiting from the chain, you want their position,” Vegas said of the internal struggles.
Amidst the politics, development continues with projects like the lending protocol Juris Protocol, which aims to be an alternative to Anchor protocol. Other community efforts include meme coins, crypto games, and plans to repeg the chain’s stablecoins.
The LUNC token has gained 17.3% over the past year but has fallen 28.7% since the 2022 burn proposal and remains down 99.99% from its all-time high of $119. Many in the community feel bonded through trauma, with price action being secondary to a shared goal.
“There is a sense of camaraderie, people are going through or have gone through traumatic [events], but you still have this common goal,” K_raucks told reporters. “What if we can pull off one of the greatest comebacks ever? It’s the freaking Hail Mary.”
