What is Terra Luna 2.0 and its price

Rancakmedia.com – In this article, we will discuss what Terra Luna 2.0 is. A new Terra Luna coin named Luna 2.0 or Terra 2.0 was officially launched after receiving 65.5% votes from the Terra Luna validator.

What is Terra Luna 2.0

Luna 2.0 or Terra 2.0 is a new token of the Terra blockchain aimed at saving the ecosystem Terra Luna after the UST stablecoin collapse.

Luna's resuscitation is expected to be helped by the emergence of this new token. Do Kwon, creator of TerraForm Labs, has proposed that the new chain will replace Terra's current network.

Along with this, Luna 2.0 or Terra 2.0 will replace the current version of Luna. As a result, Luna is no longer affiliated with the UST stablecoin.

What is Terra Luna 2.0

DApps will also be moving to the new chain in the coming days. Other functions will also be moved.

However, the old Luna chains and tokens will not disappear from circulation immediately. The current LUNA token will be called LUNC, while the new LUNA 2.0 token will use the LUNA ticker. LUNC (Luna Classic), USTC (UST Classic), and aUST (UST stake) holders will get LUNA tokens from the new chain.

Terra Luna 2.0 Release Date

Luna's new coin will be released on May 27, 2022. In addition, the genesis block for the new Terra chain will be released on the same day.

The testnet was up and running, and the mainnet was launched on May 28. The airdrop will start as soon as the mainnet is up and running.

So, when exactly will the LUNA 2.0 airdrop take place? The snapshot for the coin airdrop will be at Terra Classic block 7,790,000. The airdrop will occur on one of two dates in May 2022: the 27th or 26th. On May 27th, 3:59:51 GMT+8, the official time was announced as 3:59:51 GMT+8. 20:59 BST/15:59 ET/12:59 PM PT.

Airdrop Process

The amount of LUNA you are eligible for will be determined by the type of token you hold on the Terra Classic chain according to the length of time you hold the token (based on pre-attack and post-attack snapshots) (based on pre-attack and post-attack). -attack and post-attack snapshots).

  1. Pre-attack Luna holders: 35%
  2. Post-attack Luna holders: 10%
  3. Pre-attack aUST holders: 10%
  4. Post-attack UST holders: 15%
  5. Community Pool: 30% (with 10% for developers) controlled by Luna stakers

Luna's entire 1 billion supply will not be fully accessible at launch. For at least six months after the new chain is released, most of the overall supply will be provided.

Furthermore, the TerraForm Labs wallet has been removed from the whitelist for the Luna airdrop. Terra will be “fully owned by the community” if this is achieved. LFG Wallet is also not whitelisted.

Some bitcoin trading platforms will allow airdrops and subsequent migration to a new chain or chains. To check their balance on the mainnet network, Luna 2.0 holders must go to the Terra Station.

Price for LUNA 2.0

At the time of writing this article, Coinmarketcap indicated the starting price for Luna 2.0 or Terra 2.0 was around US$7 to US$9.

While the maximum price for Luna 2.0 is 19.54 US dollars or around Rp. 284,099. There are 210 million coins in circulation out of a total of 1 billion.

Conclusion

Luna 2.0 or Terra 2.0 is a new token of the Terra blockchain aimed at saving the Terra Luna ecosystem after the collapse of the UST stablecoin.

Thus the article about What is it Terra Luna 2.0 along with the price, I hope the above article can be useful and helpful for all of you.

Back to top button