Sign Up on MEXC
Terra Money on Friday said the migration to Terra 2.0 and LUNA airdrop is delayed to May 28 at 6 AM UTC.
The reason for the delay is not disclosed, but coordinating exchange support and validators’ work on genesis seems to have delayed the launch. Meanwhile, details on the LUNA airdrop, vesting and non-vesting on the LUNA, and exchanges supporting the migration and airdrop are revealed.
The proposal for Terra 2.0 had said the new blockchain would go live by May 27.
Terra Money Announces Terra 2.0 and LUNA Airdrop Delay
Terra 2.0 migration and LUNA airdrop supposed to be completed by today have now been delayed by a day to May 28. The Terra 2.0 testnet is up and running, and the mainnet will now go live on May 28.
The Terra community of users, validators, developers, and exchange partners have expressed support for the Terra chain revival. Terraform Labs and founder Do Kwon disclosed plans to create a new Terra chain, dropping the plan to fork the Terra chain. The company claims the new Terra chain to be the most decentralized blockchain ever.
Ahead of the Genesis, TFL will share the preultimate-genesis.json file with Terra validators and will collect all gen_tx’s from validators. Thereafter, block 1 of the new chain will be created with interconnected validators running successfully.
Moreover, Terra Station, blockchain explorer Terra Finder, and dApps’ feeder Terra Observer will function normally after the Terra 2.0 mainnet goes live.
The dApps on Terra Classic will also be migrating to the new chain. Thus, the launch of dApps on Terra 2.0 will be delayed.
“Their launch timing will depend on several factors including team bandwidth, so we’ll let you hear from them directly about their plans (which we can’t wait to hear as well).”
The LUNA airdrop will happen on the first block of the new Terra chain. Moreover, vesting LUNA will be staked to Terra validators to preserve network security. However, following the unlock of LUNA at Genesis, users will not get additional vesting LUNA for at least 6 months. Staked vesting tokens will show up in Terra Station.
For liquid or non-vesting LUNA, users can stake on Terra Station to earn rewards. It will also let users participate in the new chain’s governance.
Crypto Exchanges Supporting Terra 2.0 and LUNA Airdrop
Several exchanges are now supporting the LUNA airdrop. The airdrops are divided into two based on “pre-attack” and “post-attack” snapshots. Crypto exchanges in support include Binance, FTX, Bitfinix, KuCoin, Gate.io, OKX, Kraken, Okcoin, MEXC Global, BigONE, AtomicWallet.io, LBank.info, Upbit, Bybit, Huobi, Bitget, Bitrue, and HitBTC.
However, the Terra team will release a finalized list of exchanges participating in the launch. Users should check with the exchange regarding details on the LUNA airdrop.
- Peter Schiff Criticizes Bitcoin’s Performance Following Gold’s Rally To New ATH
- Arkham Uncovers $5 Billion in Untouched Bitcoin From Germany’s Movie2K Seizure
- Ethereum Spot ETFs Record $447 Million in Outflows Amid Crypto Market Decline
- World Liberty Financial Discloses Reason for Blacklisting 272 Wallets
- September 50 BPS Fed Rate Cut Odds Climb Ahead of CPI, PPI Data
- HBAR Price Forecast: Analyst Targets 123% Rally as ETF Approval Odds Hit 90%
- Solana Price Prediction: Will Solana Hit $320 as SOL Strategies Gains Nasdaq Approval?
- XRP Price Forecast: Analyst Eyes $127 as BlackRock Joins Ripple Swell 2025
- Chainlink Price Eyes $55 as Reserve Holdings Jump With 43,937 LINK Addition
- Cardano Price Targets 30% Surge as Top Economist Calls for Fed Cut
