Com2uS C2X Also Leaving Terra Mainnet... "Considering Building Own Mainnet"

[Asia Economy Reporter Kang Nahum] Com2us's blockchain platform C2X has ultimately decided to leave the 'Terra' mainnet (blockchain network).

On the 13th, the C2X platform announced, "The Terra mainnet has stopped generating new blocks, so we have decided to switch to another mainnet," adding, "We are discussing options to switch to another Layer 1 blockchain network or to build our own mainnet and sidechains."

They continued, "Assets will be safely maintained and the platform will resume in a stable environment, so there is no need to worry," and added, "The cryptocurrency CTX (C2X) deposited in the C2X staking program is also safe."

Previously, Com2us signed an agreement with Terra developer Terraform Labs at the end of last year to build the C2X platform based on the Terra blockchain.

However, recently, the stablecoin Terra, designed to be pegged to the value of 1 dollar, experienced depegging (failure to maintain value with the dollar), and the Luna coin, which supports it, plummeted below 0.01 dollars, causing the C2X coin to be affected and its price to drop significantly. The price per C2X, which was traded at 2,800 won last week, has now fallen to the 1,300 won range.

Com2us CEO Song Jaejun also said during the earnings conference call on the same day, "We consider the Terra stablecoin depegging issue to be a very serious situation," adding, "We are closely monitoring the situation calmly and are keeping all response options open depending on the Terra mainnet situation." He further stated, "We will take all necessary measures to ensure the operation of a permanent and stable service."

Despite these adverse conditions, the Com2us Group plans to focus on expanding the C2X ecosystem. They intend to continuously onboard games applying blockchain systems to improve performance. Com2us posted an operating loss of 2.7 billion won in the first quarter. The holding company, Com2us Holdings, also recorded an operating loss of 3.2 billion won in the first quarter, turning to a deficit.

This content was produced with the assistance of AI translation services.