Terra’s Team to Launch Terra 2.0 on May 28TH

Terra’s Team to Launch Terra 2.0 on May 28TH

May 27, 2022 Off By Roland G

The team has announced the launch date for the protocol as well as the LUNA airdrop after the community opted to have the Terra ecosystem split without the algorithmic stablecoin.

Terra Luna 2.0
Terra 2.0

The team will not create an algorithmic stablecoin to establish that Terra’s ecosystem is “more than just UST,” which is one of the fundamental differences between the protocol-to-be and its prior incarnation.

In an official Twitter thread, the team revealed more details, including the airdrop date, when the pictures were taken, and when the new protocol will go live.

Terra 2.0, as we previously stated, is on its way. It will arrive the next day. The community has been working around the clock to plan the launch of the new chain. Terra is expected to become live on May 28th, 2022 at roughly 06:00 AM UTC, subject to change.

“A supermajority of interlinked validators running simultaneously” will produce the initial block of the new chain.

According to the thread, once the chain is up and running, the block explorer, Terra Station, and the dApp feeder (Terra Observer) will all be fully functional.

The airdrop to LUNA and UST holders as a means of compensating them for the losses experienced during last month’s catastrophe is without a doubt one of the most widely discussed subjects of late.

According to a Medium article, eligible holders of LUNC (Luna Classic), USTC (UST Classic), and aUST will receive the LUNA airdrop on the new chain at genesis.

According to the article:

The amount of LUNA you will be eligible to get will be decided by the sorts of tokens you owned on the Terra Classic chain, the time period you held them (based on Pre-Attack and Post-Attack snapshots), and the number of tokens you held.