Terra 2.0 is Almost Here: FTX, Binance and Other Exchanges Support the Terra Airdrop
A new and improved version of the Terra blockchain will be released later this week, after the long-awaited revival plan received approval of majority.
The Terra team has been working to revive the ecosystem after the fall that has shaken the entire market. A new and improved version of the Terra blockchain will be released later this week, after the long-awaited revival plan received approval of majority.
Proposal 1623, the Terra revival plan which was proposed by the founder Do Kwon had closed with 65.5% of the votes in favor.
As the Proposal 1623 says: Terra's new cryptocurrency will be called LUNA (LUNA) while the previous one will be called Luna Classic (LUNC), and the network will be differentiated as Terra Classic. Both chains will coexist.
New LUNA will be airdropped to LUNC holders and residual UST holders. 70% of the network's crypto assets will be distributed in total.
FTX, ByBit, Bitrue, Bitget, Huobi, LBank, Gate.io, KuCoin, Bitfinex, Binance and Upbit are the top crypto exchanges that are supporting the migration. Do Kwon tweeted that he had not contacted any exchanges to list the new LUNA tokens.
Following the dramatic fall of LUNA and UST, cryptocurrency exchanges proceeded to remove both tokens, citing protection measures for their users. Coinbase and Binance were among those that announced the suspension at the time.
Terra 2.0 is expected to go live on May 27th, after which the airdrop of new LUNA tokens will be processed, according to the announcement from TFL today.