Crypto trading platforms show signs of support for the revival of the Terra network by listing Terra’s brand new token, also named LUNA.
The HitBTC exchange took to Twitter to announce that Terra’s new chain token Luna will be available on its platform on May 27.
The news comes during Terraform Labs preparing to relaunch its protocol and replace the old chain referred to as Terra Classic with the new chain called Terra, or Terra 2.0. The new chain will not be a fork as it will be created starting from the genesis block that will not share history with Terra Classic.
The new Terra’s token will be named Luna, replacing the old token referred to as Luna Classic (LUNC).
Terraform Labs CEO Do Kwon proposed to create a new Terra chain without Terra’s algorithmic stablecoin TerraUSD (UST) in mid-May, suggesting LUNA airdrops across LUNC stakers and holders, UST holders and Terra Classic app developers.
The proposal immediately received support from the community, with Terra validators voting in favour of the Terra “rebirth” as of May 18. The community poll is still ongoing with 67% of voters supporting Terra’s revival as Terra 2.0.
Terra’s revival comes after Terraform Labs halted the Terra blockchain on May 12 following a colossal network crash, with the Luna token plummeting as low as 99% and UST losing its 1:1 peg value to the United States dollar.
