Terra, rising from its ashes, made the much-anticipated launch of Terra Luna 2.0 on Saturday, enabling the Terra 2.0 Pheonix-1 main-net by creating the first block in the Blockchain network.
What is Terra LUNA 2.0?
As we covered in the news of Kriptokoin.com, on May 25, Terra Classic users accepted the governance proposal that outlined the formation of a new Terra Blockchain. The offer also set an initial distribution of Luna, which will be airdropped to users. According to the plan, users of Terra Classic Blockchain will receive airdrops based on pre-episode and post-episode snapshots.
LUNA 2.0 airdrop can be found by viewing the wallet address available during both snapshots and migrating Terra station networks to Phoenix-1 main-net. The launch of the Phoenix-1 Terra main net is seen by the Terra community as a new era of development. The original Blockchain was branded as Terra Classic (LUNC), while the new Blockchain was renamed Terra.
LUNA airdrop distribution
The amount LUNA users will be eligible to receive will be determined by the token types held on the Terra Classic Blockchain. It will also depend on the length of time these tokens are held and the amount of tokens held, based on snapshots before and after the crash.
In formation, LUNA 2.0 will have an allocated supply of 1 billion tokens. The distribution consists of a community pool of 30%, while the rest is managed by shared governance. As previously announced in the revival plan, 10% of the tokens are reserved for developers.
Associate license LUNA holders will receive an airdrop from a pool holding 35% of the total supply. While 10% of airdrop capacity was allocated to UST holders before Depeg, 10% of airdrop was allocated to LUNA holders after the collapse. Additionally, post-crash UST holders will receive an airdrop of 15% of the supply.
Legacy Luna will be replaced by LUNA 2.0 and all ties to the failing stablecoin will be cut. However, the old Luna will not disappear from the crypto space. The old Luna will coexist with the new Luna 2.0.
How to get Terra tokens into Terra Station wallet?
The first step involves creating a new Terra Station wallet. Users can purchase tokens using any exchange that supports Terra. Users can use their wallet addresses to get tokens in the wallet. The wallet address will appear at the top of the Terra station desktop app, next to the wallet name. Once this is checked, users can send exchange tokens to their Terra Station wallet address.
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