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Terra (LUNA) says the delivery of Terra2.0 once a community vote passes Proposal 1623, a bill for a replacement blockchain. Over the past few days, the Terra Twitter account has been changing followers on the progress of Terra2.0, starting with the initial announcement thread on cloud 25. Terra2.0 is coming. With overwhelming support, the Terra scheme has voted to pass Proposal 1623, calling for the genesis of a new blockchain and preserving our community.
Terra ecosystem fell by more than 99%
The fourteen tweet thread outlines plans to learn from the calamitous TerraUSD (UST) collapse that brought the scheme down by over 99%. The second tweet includes a link to the official revival plan: “UST peg failure is Terra’s DAO hack moment – an opportunity to stand up afresh from the ashes.” The thread additionally details that recent Luna tokens are regenerated to Terra Classic (LUNA), and Terra2.0 tokens can keep LUNA.
Yesterday, LUNA updated followers, saying the new Terra2.0 blockchain will launch on 28. Previously, the delivery was proclaimed for could 27. The 18-tweet thread announces Terra 2.0 (LUNA) will be listed by several widespread exchanges.
Binance will support the new network
Earlier this week, Binance proclaimed plans to support the new network. Binance will rename this network as Terra Classic Network Associate supporting the network airdrop. Luna and UST tokens of the Classic network will henceforward be noted during this announcement as Luna (old) and UST (old).
Terra2.0’s close launch comes on the heels of an investigation by Korean officers into charges that Terra’s founder Do Kwon wittingly ran a Ponzi fraud. Do Kwon and fellow Terraform co-founder Daniel Shin are being sued by five investors who claim to possess lost $1.1 million thanks to “fraud and alternative monetary irregularities,” says the report.
