The Terra team continues its hard work in the hope of reviving its ecosystem ravaged by an unprecedented crisis. This week, Terra unveils its version 2.0 and launches LUNA.
Terra’s “1623 proposal” to revive the ecosystem with blockchain forks and new tokenomics has aroused great interest, especially from those who suffered heavy losses with the fall of UST and LUNA.
Late last week, the team made three design changes that concerned who held the tokens before and after the “attack.” Terra also revealed on her official Twitter page that there will be no hard fork and that Terra 2.0 will be a brand new blockchain.
On May 25, the Terra “Orbital Command” validator tweeted a long report detailing the features of the Terra 2.0 network. He also announced that the new channel will be launched on Friday the 27th.
who gets what
According to the validator, the native Terra 2.0 asset will be named LUNA, while the old token will be renamed LUNA Classic. On the other hand, four categories of holders will be entitled to a LUNA airdrop.
These include investors who held LUNA and UST before the “attack” and those who bought both tokens after the ecosystem collapse began. The first slide (Data Collection) The pre-collapse was taken on May 7, while the offensive will be taken on May 27.
Those who held LUNU before the attack will benefit from a very close 1: 1 airdrop. On the other hand, those who bought a token after the decline will only get 1: 0.000015 (LUNA is currently trading at $ 0.00016).
UST holders will feel even more affected. Those who held stablecoin before losing parity with the dollar will only benefit from a ratio of 1: 0.033, while those who bought it later will benefit from a ratio of 1: 0.013. (UST currently trades for 0.067 USD).
For example, someone who holds 1,000 USTs on May 27 will receive 13 new LUNA tokens and someone who holds 10,000 LUNA (LUNA Classic) On May 27, he will receive only 0.15 new token. Note that only a third of the airdrop will take place this Friday, May 26.
“Regardless of your category, you will receive 30% of your airdrop at takeoff (May 27), while the rest will be paid to you linearly for 2 years with a minimum holding period of 6 months.”
In addition, investors will have to wait 21 days before they can redeem LUNA-distributed tokens. It was precisely this time limit that cost thousands of investors and hundreds of millions of investors when the system crashed.
Terra will try to prevent cryptosime
Several projects have already committed to working with Terra 2, including Nebula, Sigma, Prism, Astroport, Phoenix, Nexus, Spectrum, Anchor, One Planet, Random Earth and Coinhall.
However, Terra’s big stimulus package comes a little late because the whole crypt market is suffering from bear sentiment. Year-on-year, the market fell by almost 43%, which means that the industry left $ 1 trillion. Unfortunately, the fall continues with a new extended bear cycle.
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