Terra 2.0 is the successor of what’s now Terra Classic and is the revival plan of Terra founder Do Kwon after the collapse of LUNA and UST.
- Terra 2.0 is not a fork of Terra Classic, rather it is a new chain. It was launched yesterday with Terra’s team revealing the production of the ‘genesis block’, the first block in a blockchain.
- Users who were holding LUNA tokens prior to the meltdown were airdropped Terra 2.0 tokens. The distribution of the tokens relies on “pre-attack” and “post-attack” snapshots of Terra Classic’s blockchain. Tokens were allocated in relation to users holding “pre-attack”.
- Stakeholders from Terra Classic have had 70% (700M) of the Terra 2.0 tokens set aside to be airdropped to them. The amount each stakeholder receives is dependent on whether tokens were held pre or post-attack, as per the official announcement. The airdrop will be able to be claimed either through centralized exchanges or the official Terra site.
- Several crypto exchanges such as Binance, Kraken, Gate.io, Huobi, Bitfinex, Bitrue, Kucoin, and Bybit have announced that they will support Terra 2.0 on their exchanges. OKX is another exchange supporting LUNA 2.0, although they asked users to “Please trade with caution, LUNA is still highly volatile”, good advice.
- Soon after the launch of the chain, Terra 2.0 tokens reached a high of $19.53 before dropping over 75% to where they are currently at $4.95 according to data from CoinMarketCap.
