LUNA is back! Stronger than ever! Well, that’s what the organization behind LUNA naturally wants to achieve. Less than a week ago, LUNA fell by 95% within one week. A lot has happened in the past few days: Terra has come out with an ecosystem revival plan†This proposal states that they fork want to take place. A fork is a kind of splitting of the blockchain. Examples of this are the split of Ethereum (ETH) and Ethereum Classic (ETC) and Bitcoin (BTC) and Bitcoin Cash (BCH). Terra therefore wants a second blockchain. The old blockchain would then be called Terra Classic and the new blockchain would continue to be called Terra.
Terra vs Terra Classic: the new LUNA 2.0
Some important points from this revival plan proposal: First, in the new Terra blockchain there will be no algorithmic stablecoin. Second, it is good to know that the launch of this new blockchain is currently scheduled to take place around May 27th. Third, there will be 1 billion tokens on the new blockchain. 10% of these 1 billion tokens will go to the holders of LUNA at the time of the launch of the new blockchain. 25% of the 1 billion tokens will go to the UST holders at the time of launch. Of this 25%, 10% will be immediately available. The remaining 90% of the tokens are initially locked and then released linearly over the next two years.
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