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With overwhelming support from the validators of the Terra ecosystem, a vote passed Proposal 1623 calling for the creation of a new blockchain and the preservation of our community. This will lead to the new Terra 2.0 blockchain and the new LUNA 2.0 cryptocurrency.
Luna 2.0 Ecosystem Revival Plan read in full In here.
As a result, a new Terra chain will be created without an algorithmic stablecoin. The old chain will be called Terra Classic (token: $LUNC), and the new chain will be called Terra (token: $LUNA) – LUNA 2.0. The circuit update will begin a few hours after the startup snapshot.
In preparation for the launch of the new circuit, the final release of the new Terra Core kernel was released on May 27.
The new LUNA 2.0 will be aired for $LUNA Classic stakers, $LUNA Classic holders, residual $UST holders, and core Terra Classic app developers.
Details of token distribution in the scheme:
● Community Pool: 30%
● $LUNA holders before attack: 35%
● AUST holders before attack: 10%
● Holders $LUNA after attack: 10%
● $UST holders after attack: 15%
The Terra team also noted that they worked closely with CEX partners such as Binance and Bybit_official and many others to support airdrop for community members who held tokens on exchanges. The team also noted the interest of many projects in the blockchain of the exchange:
We’re already seeing incredible growth in the number of the world’s leading dApps committed to Terra 2.0 and LUNA 2.0, and we expect even more in the coming days.
Terra relies on a passionate community and a deep pool of developer talent. Many of you have shared your thoughts and ideas about the proposal, and this contribution has led to significant improvements. Thank you for your participation.
We remind you that the collapse of the Terra project and related cryptocurrencies UST and LUNA occurred in early May due to the drawdown of the algorithmic stablecoin rate against $ 1. Since then, the community has been looking for an answer on how to get their investments back and whitewash the name of cryptocurrencies from manipulation. The main question was whether there would be a fork of the network, the answer to which was received today.