TERRA 2.0: Could today be the redemption of Terra?

By Ciaran Lyons
May 29, 2022 0

After the crash of the entire Terra ecosystem recently left many investors completely broke, several global cryptocurrency exchanges have voiced their support for “Terra 2.0” announcing that they will be working closely with the Terra team and assisting with the launch to ensure its success.

Binance stated that it was “working closely with the Terra team on the recovery plan”, while FTX announced that it would support the “new LUNA airdrop and suspend LUNA and UST markets.” Exchanges including Binance, FTX, Crypto.com, Huobi, Bitfinex, Bybit, Gate io, Bitrue and Kucoin confirmed that users holding LUNA on exchange wallets would be included in the airdrop.

Terra 2.0 is expected live now. How will the LUNA airdrop work?

The most exciting part of the launch for many Terra investors is the incoming LUNA airdrop and the way it will be distributed to LUNC token holders.

From what we know so far, this is what the distribution looks like:

Community pool – 30%
Pre-attack LUNA holders: 35%
Pre-attack aUST holders – 10%
Post-attack LUNA holders – 10%
Post-attack UST holders – 15%.

In addition, the wallet of Terraform Labs (TFL) will be removed from the whitelist for the airdrop, which is intended to make “Terra a fully community-owned chain.”

All tokens will have an initial unlock and a vesting schedule that’s different based on a pre-determined set of criteria. This can be found on the Terra Ecosystem Revival Plan Document, released by DoKwon.


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