BREAKING: Terra gets second life as new blockchain goes live with LUNA 2.0 airdrop By vishal4c
Terraform Labs CEO Do Kwon. The new chain aims to revive the Terra ecosystem after its UST algorithmic stablecoin imploded a couple weeks ago. The collapse of Terra’s tokens wiped out some $40 billion in market value.a new blockchain. It took only a few days after that proposal was approved for Kwon to deploy another chain, the one that's open for use today.
Before today's launch, the governance voted to change the name of the original network to “Terra Classic,” whose tokens are now called LUNA Classic , in order to position the newly launched Terra 2.0 as the main network. Unlike its predecessor, the new Terra chain exists without an algorithmic stablecoin and comes only with LUNA that have a fixed total supply of 1 billion tokens. These LUNA 2.
The most noteworthy aspect of today's launch is the airdrop of new LUNA coins to Terra stakeholders on the Classic chain. They have been earmarked to receive 70% or of the total LUNA 2.0 token supply. The amount of LUNA 2.0 airdrop each person gets varies depending on whether those tokens were held before or after UST’s depeg, according to an
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