Terra 2.0: What the Future Holds for LUNA
AI Summary
Show More
Quickly grasp the article's content and gauge market sentiment in just 30 seconds!
With the recent collapse of the Terra platform, many TerraUSD and LUNA classic holders are wondering what's next for the blockchain. Even though only a few weeks have passed since the Terra blockchain collapsed, a new iteration of this blockchain is already set to launch. This version of Terra is referred to as Terra 2.0. Once introduced, the revival of this platform passed with approval of more than 65% of holders. The following guide details everything you need to know about Terra 2.0, and can help you decide whether or not to add the new LUNA coin to your portfolio.
What Is Terra 2.0?
Terra 2.0 is a new version of the Terra classic blockchain. It will include a relaunch of the cryptocurrency known as LUNA. The new LUNA coin will replace the old one, and will be traded via the LUNA ticker.
Terra 2.0 is different from the old platform, which is now referred to as Terra classic. Now that the platform has launched, the new Terra will be officially established with the original branding. New Terra tokens are set to be distributed to any previous UST and LUNA holders via an airdrop. The main difference between Terra classic and the new Terra is that Terra 2.0 won't be backed in any way by either Terraform Labs or Do Kwon. Instead, Terra 2.0 will be 100% community-owned.