Rebirth of Terra: What Do We Know About Luna 2.0 So Far?

On May 8th, 2022, two of the largest Blockchain-based assets, UST and LUNA, began to fall. UST, a stablecoin based on Terra, lost its peg to barely 30 cents in a few hours. A few weeks later, UST is considered a dead investment option, with the original Terra also losing its impact in the crypto markets. Due to the troubles, Do Kwon, the creator of the UST stablecoin, announced a revamp plan for the entire Terra network, the Luna 2.0 launch. Here Comes Terra Luna 2.0 The birth of Luna 2.0 is one of the most searched crypto topics in the past few days. Terra 2.0 is a new blockchain created by Terraform Labs, LFG, and Do Kwon. On May 25th, 2022, The Terra community passed a vote for the rebirth of this blockchain network. Over 65% of the Terra community voted to approve Terra rebirth under that Terra 2.0 label. After the many plans of launching the second generation of the Terra network, Terra 2.0, on May 28th, the network began airdropping Luna 2.0. Although many refer to this network as Terra 2.0, the network chose to change the original name. The original version of this chain is called Terra Classic, with tokens using symbols LUNC (former LUNA) and USTC (former UST). This new Blockchain introduces Luna 2.0(LUNA). At the moment, therefore, we know that the new chain will not be introducing the algorithmic stablecoin. So, what do we know about this token and the Terra network? Airdrop Starting May 28th, 2022 Reports indicate t...