Terra 2.0 Might Become a Big Hit! Should you Buy Luna Before it is too Late?

Terra 2.0 is a new chain that Do Kwon has decided to set as the revival plan for the Terra ecosystem.

The crash of Terra Luna (Now "LUNC") has left the masses of the crypto industry in dread. But this weekend was different for the cryptocurrency market. After all ifs and buts, the makers of Terra LUNA launched Terra 2.0 on May 28, 2022. Wherefore, the industry is engulfed by queries revolving around the Terra 2.0, its differences, airdrop, support by exchanges, and more. Crypto investors are highly interested to look out for a rise in the LUNA price, especially after the major crash in recent times. Terra 2.0 is a new chain that Do Kwon has decided to set as the revival plan for the Terra ecosystem. Let's dig deep into how giving away free LUNA tokens to crypto investors can help Terra 2.0 to revive the lost damage of the stablecoin status in the highly volatile cryptocurrency market.

Terra 2.0: The upgraded version of Terra (LUNA)

Terra 2.0 is the latest form of Terra (LUNA) that Do Kwon has come up with in the form of a revival plan. The aim is to propose a fork of the Terra blockchain as well as an airdrop to crypto investors affected by the major crash. The main objective is to get back the trust in this stablecoin through the new venture of the Terra ecosystem.

The policy of Terra 2.0 is to offer new LUNA tokens periodically to crypto investors who have invested in more than 10,000 LUNA before the major damage to this stablecoin. It will help to prevent the immediate selling of Terra 2.0. More than 300% of LUNA tokens of crypto investors will be unlocked initially while the remaining 70% will be released over two years gradually. The new Terra 2.0 tokens will be distributed post-six months to these crypto investors.

What More Does the Launch Event Hold?

The big day now seems to have finally arrived, as LUNA could transit from the ruins caused by the de-peg event. In an official announcement, made just the other day. The makers had stated that the community has been working round the clock to coordinate the new chain's launch. While the timeline was subject to change, the team managed to launch Terra 2.0 at the stipulated time.

One of the distinct highlights of the event would be the obvious parting ways with the algorithmic stable coin. Other notable events include the sharing of the pre-ultimate-genesis.json file with Terra validators, that are participating in Genesis by TFL. The collection of all gen_tx's from validators. Moreover, it also learned that the majority of the applications will be retained.

When And Who Can Expect the Airdrop?

It goes without a doubt, that LUNA and its airdrop is the most talked about topic in the industry.  The airdrop of LUNA is expected to transpire on the first block of the Terra chain on May 28, 2022, at around 06:00 GMT. According to sources, the amount of LUNA to be distributed to the eligible beneficiaries. Will be determined by the types of tokens held on the previous chain, and the time and quantity held. 

Global cryptocurrency exchanges such as Binance, FTX, Crypto.com, Huobi, Bitfinex, Bybit, Gate io, Bitrue and Kucoin have announced support of the newly modified version of Terra. Binance, the global cryptocurrency exchange stated that it was "working closely with the Terra team on the recovery plan," while FTX announced that it would support the "new LUNA airdrop and suspend LUNA and UST markets."

LUNA 2.0 was rumored to cost US$50 upon launch, with some rumors speculating prices ranging between US$30 and US$60. However, nothing has been cemented is known yet. That said, the price will be determined by the decision to mint 1 billion new tokens.