The team behind the collapsed Terra (LUNA) ecosystem is working on a new version: Terra 2.0. The new blockchain network went live this morning, and the airdrops for the new LUNA tokens have been distributed. The algorithmic stablecoins However, UST is not part of the new plan.
New Terra 2.0 is without stablecoin
That writes the Terra organization on Twitter† Many trading platforms, on which LUNA and UST were traded, have also allowed airdrops from LUNA in addition to distributed fees. Battle in Binance took part in this, for example. The tokens from the old network will remain, but probably they will hardly be used. The contents of your wallet(s) at the time of the two snapshots was used for the airdrop of the new LUNA coins.
The new network is not a hard fork, Terra emphasizes on Twitter. The new blockchain is called appropriately Phoenix-1 and has almost all the functions of the old network. you can you new ones LUNA tokens to strike on Terra Station, use in decentralized applications (dApps) and trade them on exchanges. Several applications have already been converted, includingr Astroport, Prism, RandomEarth, Spectrum, Nebula, Terraswap en Edge Protocol.
9/ Today marks the beginning of the next chapter for the Terra community; one in which our potential knows no bounds & our collective creativity can flourish.
This is it #LUNAtics – it’s time to build 🚀
— Terra 🌍 Powered by LUNA 🌕 (@terra_money) May 28, 2022
New LUNA equals great market value
According to CoinGecko the number of new tokens is not small. The market value at the time of writing is $4.5 billion, while the price is already at $6.5 dollars. That’s a significant improvement over the price of the old LUNA token, but is already down nearly 60% from the top. Nevertheless, LUNA is immediately in the top 20 largest crypto. The old LUNA token is currently at about $0.00012. The price also drops, probably because the old token is no longer used. The old LUNA token and the UST stablecoin are now officially called LUNC and USTC.
‘LUNA 2.0′, which, just like its predecessor, is simply called Terra (LUNA), is already at number 18 in the list at the time of writing. cryptocurrency ranking. You can only use 30% of this morning’s airdrop directly yourself. The remaining 70% will be spread over the next 24 months. That amount is tied up with a strike, for the security of the network. It is not known whether and when a stablecoin will be introduced on the network. Terra founder Do Kwon previously stated that trust in UST has been damaged to the point that it can no longer be used.
Does Terra 2.0 have a chance of success? This morning, Timo’s Take could already be read on Crypto Insiders about this launch.
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