Terra 2.0 is coming, Latest Version of Terra Core Has Been Released and Audited
Do Kwon's proposal to revive the Terra blockchain has been approved the controversial Terra proposal 1,623 received a 65.5% approval rate with over 200 million votes in favor. While 20.98
Terra chain without the algorithmic Stablecoin UST. The second iteration will retain the original name Terra (LUNA), while the old chain will be called Terra Classic. The new one will also focus on attracting decentralized finance applications. Kwon originally described the revival plan as a "hard fork" that would split the blockchain in two. It was later amended by Terraform Labs.
According to the official Twitter handle of the Terra ecosystem, Terra 2.0 is stated to go live on the magnet on Friday, May 27. Subsequently, LUNA 2.0 tokens which will be airdropped to the existing stakeholders, will be available for trading.
Now, Kwon has been targeted by the South Korean authorities. Despite Terra's revival plans. Not everyone is convinced and investors are furious even as the vote passed with relative ease.
Huobi is a Cryptocurrency exchange that the Platform will support Terra 2.0 as well Binance revealed that it will work with Terra on the recovery plan and notified its users.
“We are working closely with the Terra team on the recovery plan, aiming to provide impacted users on Binance with the best possible treatment. Stay tuned for further updates.”
The Popular Decentralized Finance (DeFi) Project Lido Finance's Dao voted again providing support for the New Terra Blockchain 95% of the voters rejected the new Reboot
it was also reported that Kwon had contacted five major South Korean cryptocurrency exchanges and had asked them to list LUNA 2.0 a claim that he has denied This comes after major platforms in the country, excluding Coinone, terminated transaction support for LUNA.
Read: Nvidia shares plunge after Q1 figures, crypto mining card revenue 'nominal