The community voted to fork the Terra ecosystem without the algorithmic stabilitycoin. Now, the team has revealed the launch date and LUNA airdrop.
Terra 2.0 Launches on May 28th
Yesterday’s CryptoPotato report stated that Terra 2.0 was agreed upon and voted for by the community.
The protocol-to-be is different from the one iteration before. In an effort to prove Terra’s ecosystem is more than just UST, the team won’t be creating an algorithmic stabilizecoin.
The team shared additional details via a Twitter thread. They included the date of the airdrop, when the snapshots were taken and when the new protocol would launch.
Yesterday, Terra 2.0 was announced. Tomorrow it will arrive. The community has worked tirelessly to coordinate the launch of the new chain. Terra will go live at 06:00 UTC on May 28, 2022. This is subject to possible changes.
The new chain will produce the first block “following a supermajority interconnected validators running simultaneously”.
What about the LUNA airdrop?
The airdrop to LUNA/UST holders is undoubtedly the most talked about topic of late. It’s a way of compensating them in full for the loss they incurred during the month’s fiasco.
A Medium post explains that eligible holders of LUNC, USTC, and aUST will be eligible to receive the LUNA Airdrop on the new chain after genesis.
The following is the post:
The amount of LUNA that you are eligible for will depend on what tokens you have on Terra Classic, how long you had these tokens (based upon Pre-Attack or Post-Attack snapshots) and how many tokens you have.
These two snapshots were taken according to the following schedule:
Source: Terra Medium
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