Echoing the Luna Go Forward proposal by the TerraBuilder Alliance, it offers a major shakeup that involves rolling Luna back through a hard fork to prior to the crash. This would create a new Luna, and leave behind Luna Classic (LUNC).

Here, a new Luna with a supply of 1 billion would be distributed. 35% of this Luna would be allocated to existing Luna holders prior to the depeg. 25% would go to a community pool, and 5% for development. A further 25% would go to current UST holders, and 10% would go to current Luna holders.

In a previous Twitter thread, Kwon reversed his initial focus on UST towards Luna. "I still believe that decentralized economies deserve decentralized money – but it is clear that UST in its current form will not be that money," he said.

This Luna recovery plan puts the Terra Layer-1 first, as Kwon and the community seek to save the wider ecosystem.

"Terra needs a community to continue to grow and make its blockspace valuable again," said Kwon in his previous plan. "The only way to do this is to make sure that token holders before the attack commenced, the most loyal community members and builders, stick around to keep providing value."

Of course, this remains just a proposal, and without a consensus among the Terra community, it might never happen. A vote is set to happen on Kwon's proposal on May 18. The new network will launch on May 27 if successful.

The alternative path towards a Luna recovery proposed by some Luna holders involves a Luna burn. By destroying much of the circulating supply, they hope it would push the price up without a fork.