Terraform Labs Statement on Verdict in SEC Proceedings: We are very disappointed with the verdict, which we do not believe is supported by the evidence. We continue to maintain that the SEC does not have the legal authority to bring this case at all, and we are carefully weighing our options and next steps.

1/ This is a post-mortem analysis of recent block production issues on the Terra blockchain.

Included is the core team's conclusions of what caused the issues, and what has been done to resolve them 🧵 ⤵️

2/ The Terra blockchain experienced two disruptions in block production, on March 14th & 21st. Between the two incidents, the chain was halted for ~3 hours total.

In both cases, the core team reacted quickly to restart the chain and diagnose the issue.

1/ Prop 4805 to upgrade the Terra chain and add four new updates has successfully passed!

As a result, the Terra blockchain will halt temporarily at block 9,444,000, which is approximately 10:00 am UTC today (14 Mar), to execute the upgrade with Terra validators.

2/ Read the full details of the chain upgrade 👇
https://t.co/WlcHmYW3gp

1/ Upgrade proposal v2.10.2 is live on Commonwealth:

https://t.co/WlcHmYW3gp

v2.10.2 fixes a rewards distribution issue with the Alliance module, upgrades PFM, enables WasmVm 1.5 features, and removes legacy code.

2/2 Special thanks to the @WhiteWhaleDefi team for discovering the Alliance issue, and @0xphilipp of @eris_protocol for assisting with the fix.

Due to the high rewards currently going to ampROAR stakers, this proposal will go on chain for voting within the next 3 days.