Proposal #276
Passed on 25 Dec 2024 with 97.7% of the votes for yes.
Yes
97.7%
100.0% without abstain
Veto
0.0%
of votes cast
Ended
25 Dec 2024
97.72%
of votes cast
2.28%
of votes cast
0.00%
of votes cast
0.00%
of votes cast
This proposal seeks to reopen the IBC channels between the Axelar network and the Terra blockchain. Following the exploit on July 30, 2024, which resulted in the loss of Axelar assets on Terra, substantial recovery efforts have been made. Terra has acquired sufficient assets to cover the exploit and is committed to restoring the integrity of the ecosystem. Re-enabling the channels is critical for the functionality of existing protocols and liquidity on Terra, ensuring the ecosystem can thrive.