Do Kwon make Terra 2.0, which is the latest version of Terra (LUNA), so that he could find a way to bring people back to life? The goal of this project is to suggest a split in the Terra blockchain and give airdrops to crypto investors who lost money in the recent market crash. The main goal of this brand-new Terra ecosystem project is to get people to trust this stable coin as they did before.
Investors who bought more than 10,000 LUNA tokens before a lot of damage was done to this stable coin will be able to get new LUNA tokens. This is part of Terra 2.0’s policy. This will keep on happening. It will make it harder to sell Terra 2.0 right away.
First, investors in cryptocurrencies will be able to use more than 300% of their LUNA tokens. The last 70 percent will be given out in stages over the next two years. These cryptocurrency investors will get the brand-new Terra 2.0 tokens after six months.
Some cryptocurrency exchanges, like FTX, KuCoin, Gate.io, Bitfinix, Huobi, Upbit, and Bitrue, have said they support the Terra 2.0 and LUNA airdrops. Starting today, cryptocurrency exchanges will temporarily stop LUNA and UST deposits and withdrawals to make sure a smooth migration and airdrop.
Binance and other exchanges have not given any details about the recovery plan, even though they said they were working closely with the Terra team on it. This is still true, even though they work closely with the Terra crew.
The most trusted cryptocurrency exchanges backed Terra 2.0 and the LUNA Airdrop.
When the new Terra chain came out on May 27, many different things were said about it on cryptocurrency exchanges.
LUNA and UST holders will be able to get free new LUNA tokens on cryptocurrency exchanges at the time of the snapshot. Speaking of cryptocurrency, Bitcoin is very comparable to virtual cash, and bitcoinsmarter robot trading platform can be used to make transactions safe and easy.
It looks like LUNA and UST will stop trading FTX at 12:00 UTC. Any orders that were made for a long time will be canceled after that time. Also, LUNA and UST spot borrowing and lending positions will be automatically canceled, and the services won’t be available anymore. Gate.io has also stopped trading LUNA and UST, as well as its margin borrowing and lending services and perpetual contracts. At 8 am UTC, something took place.
All of the cryptocurrency exchanges that accept Terra 2.0 and the LUNA airdrop have made the same announcements, and trading has stopped for all LUNA/UST pair combinations.
South Korean cryptocurrency exchanges are not interested in Terra’s restart and airdrop because the collapse of LUNA and UST is still being looked into. Upbit, South Korea’s biggest cryptocurrency exchange, said it would accept the LUNA airdrop, but it won’t let people trade newly issued LUNA coins.
Even though the Terra chain just came out, it is strange that Coinbase, Kraken, and Gemini have not yet added support for it. On May 22, Coinbase Cloud said that they would no longer work with the Terra blockchain.
Do Kwon and Terra are under more pressure as investigations and court cases go on.
Even though most people have agreed to the Terra rebirth plan, Do Kwon and Terraform Labs are still having trouble in South Korea because they are being investigated and sued.
As soon as word got out that a lot of South Koreans were hurt, the South Korean government and other authorities started looking into what happened when UST and LUNA crashed. A worker at Terra said that a well-known law firm might be planning to use cryptocurrency exchanges that sell LUNA and UST to people in the U.S.