25 May, 2022
99% of the Terra community has voted in support of the proposal to burn the excess UST in circulation.
Proposal 1747 to burn the remaining UST was submitted seven days ago in Terra Station.
Over 148.43 million votes have been made by Terra community members, with the vast majority of participants voting in support of the proposal.
Approximately 147.5 million of the total votes are in favor of burning the remaining UST in circulation.
Only 5,491 votes have been recorded against the proposal so far.
The voting proposal will end within the next 12 hours after which the decision will be implemented.
In another proposal, the majority of the Terra community voted in favor of building a new chain and rebirth LUNA 2.0.