The world's major cryptocurrency exchanges have announced that they will support the upcoming restart of Terra after the proposal of launching "Terra 2.0". Including binance, FTX, crypto Exchanges including com, Huobi, bitfinex, bybit, gate IO, bitrue and kucoin promised to support the modified version of the recently collapsed Terra blockchain.
Binance said it was "working closely with the terra team on the recovery plan", while FTX announced that it would support "the 'airdrop' of the new Luna and suspend the Luna and ust markets".
These announcements were issued after the "proposal 1623" proposed by do Kwon, CEO of terraform laboratory, was adopted by Terra community. The proposal is Kwon's attempt to restore the collapsed Luna ecosystem, which collapsed earlier this month due to the decoupling of its algorithmic stability currency ust from the dollar.
On May 16, do Kwon, the creator of Terra ecosystem, proposed to restart. His "proposal 1623" outlined the plan to restore the collapsed Terra ecosystem. According to the proposal, terraform laboratory will deploy a new blockchain called Terra 2.0, while the old collapsed blockchain will continue to exist as "Terra classic". The restarted Terra ecosystem will not include the UST stabilization coin.
According to the proposal, the existing token holders of Terra classic will be "airdropped" into the newly minted Luna tokens.
Including bybit, kucoin, binance and crypto Com began to support Terra 2.0 within a few minutes after the proposal was passed, confirming that users holding Luna in the wallet of the exchange will be included in the airdrop range. Do Kwon said on twitter that he did not contact the exchange to request the listing of new Luna tokens.
According to TFL's announcement earlier today, Terra 2.0 is expected to go online on May 27, 2022, after which it will handle the airdrop of new Luna tokens.
According to coinmarketcap, the collapsed Luna token will be renamed Luna classic (lunc) after Terra restarts, which has fallen by more than 9% in the past 24 hours. At present, the transaction price is US $0.0001549.