Terra 2.0!! Luna’s Revival Plan?

Terra founder Do Kwon announced on Twitter that they will revive terra with a new blockchain. He said that the Terra blockchain will be forked into a new blockchain and will not be dependent on the TerraUSD (UST). This new blockchain will be called Terra (LUNA) and the old one will be renamed Terra Classic (LUNC).

What's going to happen?

Once the fork is done, Terra foundation will be airdropping the new LUNA to all the stakeholders who had staked their LUNA, all the UST holders, and the community holding the LUNA (it's still unclear what will happen to people who bought LUNA at dead bottom price). new LUNA active circulation supply will get reset to 1 billion.

Recently on Twitter lots of LUNA-based projects have supported this move and want to go ahead with the new fork. Terra foundation has given the option for the community to vote for/against this decision and most “people” seems to be supporting this move.

But there is still a problem with trust. will people invest in LUNA again, seeing their “Stablecoin” went on a wild ride recently?

You can read about the full proposal here https://agora.terra.money/t/terra-ecosystem-revival-plan-2-updated-and-final/18498

read Do Kwon's full tweet here https://twitter.com/stablekwon/status/1526258273820651520

What do you think about this new proposal? and will LUNA again have the support of the people?






Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Crypto has changed my life, just not the way you may think

The Role of the TRON Blockchain in Powering the Success of the JSB Foundation

Reddit Launched Waitlist for Site-wide Expansion of ETH ‘Community Points

Cryptocurrencies and Digital Assets Recent Ascend.

The Libra Masterplan

Aave Price Prediction 2022–2025

Ethereum guide

💣AMA Recap With LandShare💣

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Manoj Ahirwar

Manoj Ahirwar


More from Medium

MCC Staking Live On FTM, BSC

What Is Staking In Cryptocurrency And How Does It Work?

How to create your own Solana Token

June 2022’s Best Cryptocurrency Staking Platforms