Launch Date Announced for Terra’s “Rebirth”
The Terra proposal to create a new chain, Terra 2.0, has been approved. The Terra proposal 1,623 received over 200 million votes in favour. 65.5% of the voters approved the creation of a new chain, 20.98% abstained from voting, while 13.2% used the “no with veto”.
When Terra 2.0 is created, the current chain will be crashed to zero and be renamed Terra Classic. The new chain will also not feature the algorithmic stablecoin that led to the downfall of the Terra ecosystem.
Terra has announced that the Terra 2.0 will go live on the mainnet on Friday, May 27. Subsequently, LUNA 2.0 tokens will be available for trading, which will be airdropped to the existing stakeholders.
Terra LUNA 2.0 Gets Support from Major Exchanges
Ahead of the launch, major exchanges have shown positive sentiment regarding LUNA 2.0. Bybit, Huobi, Binance, and Bitrue will assist in the airdrop of new LUNA tokens, slated for May 27.
On The Flipside
Why You Should Care
Despite the challenges, Kwon remains focused on resurrecting the Terra ecosystem and quelling community backlash.
To learn about the Terra collapse, also check:
Terra Switched Off Indefinitely, LUNA & UST Barely Alive, and
TerraUST Loses Its Peg Once Again
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Source: Cryptocurrency - investing.com
