Luna's Revival Plan, Will Terra 2.0 Work?!

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Luna's Revival Plan, Will Terra 2.0 Work?!

After a traumatic breakup, Terra receives a new breath of life in an attempt to rebirth Luna. But what would a failed crypto revival look like?

Terra supporters have voted to revive the collapsed cryptocurrency - but it won't be what it once was. The plan is to get Luna back without the element that caused the cryptocurrency’s crushing fall two weeks ago – its stablecoin, UST.

What will the new Tera look like?

According to Terra, Terra 2.0 will “effectively create a new Terra chain without the computational stablecoin.”

“The old series will be called Terra Classic (token: $ LUNC), and the new series will be called Terra (token: LUNA $). The series upgrade will start a few hours after launch.”

The new Terra, scheduled to launch on May 27 and delayed to May 28, will effectively create a new blockchain linked to the Luna token. The old Luna will be replaced by Luna 2.0, completely severing ties with the failing stablecoin.

But the old Luna won't go away completely, you'll simply coexist with the new and improved Luna 2.0. Holders of the old Luna, now renamed Classic, and UST will be awarded a portion of the billion new tokens.

Luna holders will receive about 35 percent of all new tokens, 10 percent will go to those who owned the coin before the crash, 25 percent will go to traders who still own Luna and UST after the crash, and 30 percent will go to pool From investors in Luna.

will you succeed
After the massive crash in Luna, the cryptocurrency market was severely shaken by the loss of $60 billion. However, investors seem to be fascinated by Luna's rebirth and full ownership by the community. Luna rose more than 20 percent on Wednesday after the Terra announcement, according to CoinGecko data. Even ust is up over 50 percent.

Ditching the stablecoin that caused Luna to crash in the first place may increase the likelihood of a new cryptocurrency succeeding, but with increased distrust of anything that might happen in this volatile crypto market.

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