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Today, the Terra community announced the postponement of the airdrop of the new Terra 2.0 blockchain chain to May 28. The reason for the transfer is a large amount of work is a large amount of operations that the team does not have time to carry out on time. The time for the drop is set to 06:00 UTC or 9:00 Moscow time.
“Yesterday we said that Terra 2.0 is coming out. Tomorrow it comes. The community worked around the clock to coordinate the launch of the new network. Taking into account possible changes, we expect Terra to air on May 28, 2022, at approximately 06:00 Coordinated Universal Time.”
The fact that we’ve reached that point so quickly speaks to our incredible community of users, validators, developers, and sharing partners.
How will the Terra splitting and distribution be carried out?
In the run-up to Genesis, the Terra team provided a list of pre-launch actions:
- TFL will share the preultimate-genesis.json file with the validators involved in Genesis.
- TFL will collect all gen_tx from validators.
Overview of pre-launch events (continued): - Block 1 of the new chain will be produced as a result of a super-majority of interconnected validators operating simultaneously
Terra Station, Terra Finder (our block finder) and Observer (our feeder for dApps) will have full functionality at the time the network starts.
Many of the dApps you know and love about Terra Classic have committed to migrating to Terra.
The specified time is also possible to change, since the timing of their launch will depend on several factors, including the bandwidth of the team, so it will be necessary to additionally track terra social networks.
The team also added that thanks to close cooperation with exchange partners, the new LUNA 2.0 coin will be listed on many of the exchanges. And the final list of those involved in the launch will be published soon.
Who will receive the new LUNA and what is the distribution scheme?
According to the announced reimbursement scheme, for holders less than 10,000 LUNA during the genesis block, 30% of the airdrop will be available in wallets immediately, and the remaining 70% will be unlocked in the next 2 years. For wallets from 1 000 000 LUNA and more, the terms can stretch up to 4 years. You can read more in Medium.
For users receiving airdrop through CEX, they should check with the exchange how the LUNA airdrop will work.
For bridge users, the team has done everything possible to take everyone into account, but unequivocally cannot state that the return of LUNA will necessarily be executed.
A complete list of chains, bridges, and CEX that will be supported when distributed on the Genesis:
Author: Ed Miscavige, Analyst at Freedman Club Crypto News
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