What is Luna 2.0? The Terra platform is trying to revive its ecosystems after the LUNA and UST crashes. The project has announced that it will launch a new blockchain called LUNA 2.0. The Terra Luna project will launch a new Terra Luna token named Luna 2.0 after the success of the vote.
Luna is looking for new ways out to recover after the big drop in the crypto markets in the past days. Do Kwon offered a new way out. According to this plan, the existing Terra blockchain will be split with a Luna fork. This plan received over 200 million yes votes on the platform.
New Plan What is Luna 2.0?
Luna 2.0 is a new token of the Terra blockchain, intended to be released to save the Terra Luna ecosystem after the major crash in the crypto markets. This project is owned by Do Kwon, who is also the founder of TerraForm Labs. Accordingly, it is intended to replace the existing Terra network. It will also replace Luna. Thus, he will part ways with the UST stablecoin, which has suffered greatly.
What is Luna 2.0? When Will Luna 2.0 Be Released?
Voting is still ongoing. If it passes the vote, Luna 2.0 will be released on Friday, May 27. Also, the current Luna coin will now be officially renamed to Luna Classic. The price of Luna 2.0 will also be announced at the launch.
When Will Luna 2.0 Airdrop Be Collected?
Existing Luna owners will receive the new Luna 2.0 via Airdrop at the launch of the new Terra chain. With a supply of 1 billion, the airdrop will be collected as follows:
- 35% to Luna owners before the attack,
- 10% to Luna owners after the attack
- Pre-attack IHR holders 10%,
- post-attack IHR holders 15%,
- Community pool 30%, 10% of this share will be allocated to developers.
Investors who purchase both LUNA and UST will be able to receive 30 percent of their entitlement at the outset and the remaining 70 percent within 2 years after a 6-month waiting period. The TerraFrom Labs wallet will also be whitelisted for the Luna airdrop event. Also, the LFG wallet will not be whitelisted. Thus, it will enable Terra to be a fully owned community chain. Terra said yesterday that he is proud to work with CEX partners Binance and Bybit to support the Airdrop.
What is Luna 2.0? Which exchanges will support LUNA 2.0?
Exchanges that will support LUNA 2.0 include:
- Binance
- Kucoin
- Huobi
- Bybit
- BtcTurk
- Bitrue
- FTX
- Gateio
- Bitfinex
- Bitget
