11 platforms for trading digital assets have positively responded to the plan to revive the network, they are also ready to list a new LUNA token

Which crypto exchanges supported the launch of Terra's new blockchain. List of platforms

26.05.2022 - 14:25


3 min

What’s new? The list of cryptocurrency exchanges ready to support the launch of the new Terra 2.0 network has been expanded by a number of platforms. Binance and Huobi exchanges have been joined by Gate.io, Bitrue, Bitfinex, LBank, Upbit, Bybit, KuCoin, OKX and MEXC. In addition, the crypto exchanges said they are ready to list the new LUNA token. As of May 26, the plan to revive the ecosystem by creating a new blockchain was supported by 65,5% of validators. A total of 305,97 million users took part in the vote.

What is known about the new network? Terra 2.0 will launch on May 27. In the new blockchain, the supply of LUNA tokens will be limited to 1 billion. When Terra 2.0 is created, the old blockchain will be called Terra Classic (LUNC), and the old LUNA ticker will be transferred to the new token.

The “pre-attack” snapshot is considered May 7, 2022, and there will also be a snapshot before the launch of the new network. Based on these two snapshots, a drop of new tokens will be conducted. Coins will be distributed among the “pre” and “post the attack” LUNC and UST holders with some more going into the community pool.

On May 25, it was reported that the Decentralized Autonomous Organization (DAO) of the DeFi-project Lido Finance did not support the idea of switching to Terra 2.0. 95% of the community votes were against it.

Terra representatives noted that some popular dApps are ready to move to the new network, including Prism, Stader, RandomEarth, and OnePlanet.

On May 23, Terraform Labs CEO Do Kwon called burning tokens of the old network a bad idea. In his opinion, it will not restore the Terra ecosystem, in addition, the holders will lose their assets. Despite this, Terra's CEO has provided a wallet address for the destruction of LUNA tokens.

Read more about the events surrounding the collapse of the Terra ecosystem in GetBlock Magazine's article.

Subscribe to Getblock Magazine and stay up to date with the latest news from the world of cryptocurrencies and the digital economy