After the voting process ends… The new Terra 2.0 network will launch on May 27th… Details here
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Answer After the voting process ends… The new Terra 2.0 network will launch on May 27th… Details here
It seems that “Do Kwon” and his team have finally come up with the plan and proposals to fix Terra for what they were hoping for.
After the Terra crash, one of the biggest in cryptocurrency history that occurred earlier this month, a new network dubbed Terra 2.0 will be launched on Friday, May 27.
What is stated in Advertising:
The Terra system community voted to pass Proposition 1623, which calls for the emergence of a new blockchain.
According to the proposed plan, the original blockchain will be split with the old blockchain being renamed Terra Classic.
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The new blockchain will get the name Terra which will run without any stable currency.
Similarly, the old Luna coin will be called Luna Classic (LUNC) while the new name will be LUNA.
Do Kwon and his team decided that all former LUNA and UST holders of the new cryptocurrency would receive the new cryptocurrency in a free distribution process (airdrop).
Distribution will be based on snapshots taken from the legacy Terra network to verify participants.
Terra stated that due to technical limitations, it will not be possible to include all LUNA and UST properties.
Cryptocurrency exchanges support Terra 2.0 upgrade:
Some of the most popular cryptocurrency exchanges have announced that they will support the launch of Terra 2.0.
Huobi said it would support the launch, while OKX said it would support the distribution and airdrop of the new LUNA coins.
On the other hand, Binance announced that:
The Terra community just passed a vote to relaunch the Rebirth Terra Network.
We are working closely with the Terra team on the recovery plan, with the goal of providing affected users on Binance with the best possible treatment.
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Stay tuned for more updates.
Read also:
The arrest of the investor in the digital currency “LUNA” who was hovering around the apartment of the founder of the “Terra” project
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