Luna 2.0 is about to launch: What you need to know after TerraUSD’s spectacular collapse


Luna 2.0 is about to launch: What you need to know after TerraUSD’s spectacular collapse

Doesn’t the Luna coin already exist? Yes, but the previous Luna coin—which nearly lost all of its value earlier this month—will now be known as Luna Classic and will trade under the symbol LUNC, according to Bloomberg.. The new Luna coin will trade under the LUNA ticker.

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 🔹 A new version of the Terra blockchain, known as Terra 2.0, is about to go live, almost three weeks after the Terra blockchain crashed and TerraUSD lost its peg to the dollar or Luna 2.0. A new Luna coin will also be minted in the process. Here’s what you need to know.

 🔹 What is Luna 2.0? It’s a fork of the original Luna blockchain, which will see the launch of a coin named Luna.

 🔹 What about the airdrop? In the world of cryptocurrency, giving out free coins is known as a "airdrop," which is typically done for marketing purposes to raise awareness of the coin.. The new Luna will airdrop to existing owners of the old Luna coin (now Luna Classic) and to the owners of TerraUSD, which lost its peg to the dollar, leading to its collapse.

 🔹 What quantity of fresh Luna will I receive in the airdrop? The quantity of LUNA you will be able to get will depend on the kinds of tokens you owned on the exchange, according to a Medium post on the subject: Terra Classic chain, the time-period that you held these tokens (based on Pre-Attack and Post-Attack snapshots), and the quantity of tokens held.” Check out the post for detailed examples.

 🔹 When is the Launch? The @terra money Twitter account reports that it will debut on May 28th, 2022, at 6 a.m.. UTC (2 a.m. EST).

 🔹 Anything else to know? Many people are pondering why anyone would give this new edition of Luna a chance in the wake of the stunning collapse of TerraUSD and the original Luna a few weeks ago, which destroyed people's life savings. Mark Cuban can be added to that list. According to the cryptocurrency enthusiast and millionaire, Fortune, he won't be funding the brand-new Terra chain. He just said "No" when asked if he would invest.

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