Key Takeaways:
- Terra community ready to launch Terra 2.0.
- LUNA 2.0 airdrop begins May 27.
- Several exchanges are ready to list LUNA 2.0 upon arrival.
YEREVAN (CoinChapter.com) – The recently deceased Terra ecosystem has been buzzing again for the previous two days, pulling off a revival. The new Terra 2.0 or Luna 2.0 will launch at 06:00 am UTC on May 28. The announcement came after the so-called ‘LUNAtics’ community voted on migrating “most” of the apps built on Terra Classic to the new version.
In detail, Terra (now Terra Classic) collapsed in early May, when the stablecoin TerraUSD (UST) lost its peg to the dollar. LUNA flew off the handle and lost virtually all value. However, the community decided to give the project another go. Members voted to pass Proposal 1623, calling for the “genesis of a new blockchain and the preservation of the community.”
Also read: Terra LUNA suicide shakes the crypto market; Do Kwon “heartbroken.”
Terra or Luna 2.0 to launch soon
According to the thread presented above, Terraform Labs, the company behind the project, will “share the ‘preultimate-genesis.json’ file with Terra validators participating in Genesis.” Terra 2.0 will produce Block 1 of the new chain following a supermajority of interconnected validators running simultaneously.
Several Terra critics commented on the soon-to-be resurrection. For example, billionaire and crypto enthusiast Mark Cuban expressed his disinterest. The investor said he was “not involved at all” and never owned any LUNA. Additionally, Dogecoin co-founder Billy Markus joined the criticism. He predicted that the LUNA 2.0 revival attempt might attract “dumb gamblers.”
He also slammed the majority of the crypto community, calling 95% of crypto projects “scam and garbage.”
Also read: VanEck and 21Shares’ Terra investment products drop over 99%.
Meanwhile, the Terra community voted on the LUNA 2.0 airdrop to start on May 27. The team presented the distribution of LUNA tokens before and after the crash.
The announcement further clarified that “pre-attack” users would immediately access 30% of LUNA 2.0 airdrop. The recipients will include wallets with less than 10,000 LUNA. The airdrop will also include users who deposited UST in Anchor and post-attack LUNA or UST holders.
What about LUNA?
The platform also commented on LUNA 2.0 and its listing on several platforms.
Thanks to our exchange partners working with us closely, the new $LUNA coin will be listed on many of your favorites. The finalized list of those participating in the launch will be out soon, so stay tuned.
commented Terra in the thread.
According to Terraform Labs’ CEO, Do Kwon, several major exchanges, including Kraken, have announced that they would support LUNA’s airdrop. Other exchanges included Gate.io, KuCoin, FTX, Huobi, MEXC Global, OKX, ByBit, and Bitfinex.
Also read: Terra risks facing legal action after its native token LUNA crashes 99%.
