- Terra 2.0 is going live on 28th May.
- Binance, HitBTC, Huobi and Bitfinex are working with Terra on the launch of LUNA 2.0, Terra hard fork.
- LUNA price could wipe out losses incurred by holders in the colossal crash of LUNC and UST.
Speculations have been going strong as to how the new blockchain will be created and how Terraform Labs and its founder will pay off to those who became the victim of price crash and lost their LUNA investments.
To create Terra 2, a blueprint has been created and an amended proposal has been passed too. Terra 2 will be a whole new system with advanced features.
A recent Tweet has disclosed that Terra 2 testnet is live, and the entire blockchain will go fully live on May 28.
1/ Yesterday, we said Terra 2.0 is coming. Tomorrow, it arrives.
The community has been working around the clock to coordinate the new chain’s launch. Subject to potential change, we expect Terra to go live on May 28th, 2022 at around 06:00 AM UTC.
— Terra 🌍 Powered by LUNA 🌕 (@terra_money) May 27, 2022
Yesterday, Terra shared that upon Genesis on May 27, qualified holders having USTC, LUNC and aUST will be airdropped LUNA on the new chain.
The news also led to a powerful question, “Are All LUNA Holders Eligible to Receive LUNA 2.0 Airdrop?”
Until now, exchanges looking forward to supporting Terra 2.0 airdrop are- Bitrue, OKX Gateio KuCoin, Binance, Bitget, HitBTC, Crypto. com, Huobi Global, FTX, MECX Global, Kraken, Okcoin, LBank, Bitfinex and Bybit.
When the airdrop begins, a total of four groups of tokens in the Terra ecosystem will be there. These groups are Pre-crash Luna, Pre-crash UST, Post-crash Luna and Post-crash UST.
Luna airdrops will be made from tokens minted on Terra 2. Each of the four token categories will have a pre-defined airdrop ratio.
Holders of all token categories will receive 30% airdrop with respect to their holding during the genesis of Terra 2. Remaining 70% will be distributed over two years, with a peak at six months.
The airdropped tokens will go into the user’s wallets in a bonded state; however, they can be unbounded for transfer after 21 days.
According to Terra team, for Liquid Luna tokens, users can stake their liquid LUNA on Terra Station and earn rewards & participate in the new chain’s governance, use dApps upon launch, or trade it on an exchange.
On May 26, FTX not only declared support for LUNA airdrop, but also unveiled LUNA & UST markets suspension.