Terra Dapp Expo canceled following chaotic week for Terra network


The Terra Dapp Expo, slated for June 9 and 10 in Austin, Texas, has been canceled, according to the expo’s official Twitter feed.

“We have been monitoring the community responses to the idea of TDX continuing, and after careful deliberation we have sadly decided to cancel the event. The decision was not made lightly and is crushing news for everyone involved,” the expo organizers said on Twitter.

Over the past week, the linked meltdown of the algorithmic stablecoin UST and Terra's native Luna asset resulted in big losses for those exposed to the market. The resulting chaos ultimately led to stoppages of the Terra blockchain and market trading halts as the circulating supply of Luna skyrocketed

The organizers went on to say in another tweet that “there have been serious threats made from understandably upset individuals who've lost everything in this crash - and we don't want to risk anyone's health/life.”

They added: “We can say that USD ticket purchases will be refunded, so please be patient with us as we work towards processing those - there will be updates over the coming days.”

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May 5, 2022, 3:17PM UTC