Terraform Labs plans to dissolve its operations and sell off ecosystem projects.

Chris Amani, CEO of Terraform Labs, announced the company's plan to dissolve its operations and called for the community to take over the Terra network. Amani stated that the company intends to sell projects within the Terra ecosystem, including Pulsar Finance, Station Wallet, and Enterprise DAO. This decision comes after Terraform reached a $4.47 billion settlement with the U.S. Securities and Exchange Commission (SEC), related to the collapse of the UST algorithmic stablecoin in 2022. Amani also mentioned that Terraform Labs will burn all unallocated $LUNA tokens through a community proposal, and the remaining allocated tokens will be destroyed by TFL.