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Cryptocurrency News

Terra (LUNA) 2.0 relaunches according to Do Kwon’s revival plan

05/28/2022

Less than a minute

2022.05.28 15:32

Do Kwon, the co-founder and CEO of Terraform Labs, confirmed the relaunch of Terra’s new chain, Terra 2.0, which aims to revive the fallen Terra (LUNA) and TerraUSD (UST) ecosystem.

Kwon’s revival plan for Terra involves hard forking the existing blockchain and reissuing LUNA tokens to existing investors based on a snapshot before the death spiral bled the LUNA and UST markets — effectively resulting in unrecoverable losses for investors.

Source

05/28/2022

Less than a minute