Terra Team Reveals Terra 2.0 Launch Date And LUNA Airdrop
Terra has revealed the launch date for the protocol and the LUNA airdrop, after the community voted in to have the terra ecosystem essentially forked without the algorithmic stablecoin.
One of the key differences between the new protocol and its original iteration is that the team will not be creating an algorithmic stablecoin in a bid to prove that Terra’s ecosystem is “more than just UST.”
Terra team tweeted further details, including the date for the airdrop, when were the snapshots taken, and when the new protocol will launch.
1/ Yesterday, we said Terra 2.0 is coming. Tomorrow, it arrives.
The community has been working around the clock to coordinate the new chain’s launch. Subject to potential change, we expect Terra to go live on May 28th, 2022 at around 06:00 AM UTC.
— Terra 🌍 Powered by LUNA 🌕 (@terra_money) May 27, 2022
The first block of the new chain will be produced “following a supermajority of interconnected validators running simultaneously.” Per the thread, the block explorer, as well as Terra Station, and the feeder of dApps (Terra Observer) will all be fully functional once the chain is up and running.
LUNA Airdrop?
One of the more discussed topics is the airdrop to LUNA and UST holders as a means of compensating them for the losses incurred during this month’s fiasco.
According to a Medium post, eligible holders of LUNC (Luna Classic), USTC (UST Classic), and aUST – will receive the LUNA airdrop on the new chain upon genesis.
The post detailed:
“The amount of LUNA you will be eligible to receive will be determined by the types of tokens you held on the Terra Classic chain, the time period that you held these tokens (based on Pre-Attack and Post-Attack snapshots), and the quantity of tokens held.”
The two snapshots in question were taken as per the following schedule:
