After crash, LUNA opt for Terra 2.0 to revive token
Last week, stablecoin terraUSD (UST) lost its edge over the U.S. dollar and fell as low as $0.67, losing almost 99 per cent of its value.UNA, the cryptocurrency designed to support the terraUSD (UST), is set to launch a new, community-owned token called Terra 2.0
The plan is to “Fork the Terra chain into a new chain without the algorithmic stable coin. The old chain to be called Terra Classic (token Luna Classic – LUNC), and the new chain to be called Terra (token Luna – LUNA).”
Luna tokens will be airdropped across Luna Classic stakers, Luna Classic holders, residual UST holders, and essential app developers of Terra Classic.
Luna has been renamed LUNC and tagged as Luna classic. The 2.0 will be called LUNA and sent to holders of stable coin UST and LUNC. Its proposed commencement date is May 27.
Last week, stablecoin terraUSD (UST) lost its edge over the U.S. dollar and fell as low as $0.67, leading to Luna losing almost 99 per cent of its value.
