Will S. Korean Exchanges Relist LUNA? Rumors Claim Terra Founder Reaching Out To Exchanges

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Terra's hard fork plans were criticized on Twitter

Do Kwon, the CEO of Terraform Labs who is currently being investigated by the police for counts of fraud, tax evasion and other violations of financial regulations is rumored requesting Luna 2.0 relisting when they begin issuance. As per rumors, his words; ‘please list Luna 2.0‘ was sent through a contact person that is suspected to be an employee of Terraform Labs in Singapore, via Telegram, to five exchanges that support KRW trading in Korea. 

LUNA now at the mercy of exchange favours

CEO Kwon took to Twitter on the 18 of May to say; “Let’s name the existing Terra blockchain network ‘Terra Classic’ and the existing Luna ‘Luna Classic’ and create a new Terra blockchain.” 

Validators’ votes have been casted and as of the 25th, the total voter turnout was 80.99%, and ‘agree’ was impressively at the rate of 67.27%, which indicates a very high probability of passing.

However, being a subject of investigation by the police, Do Kwon’s whereabouts are currently unknown. Financial crimes investigative teams also have their sights set on Kwon and as a result, the domestic exchange seems to be keeping Terra at arm’s length.  The contacted domestic exchange platforms have reportedly replied to the request from Terraform Labs’ in a cold manner; “If you want to be listed, go through the official listing process.”

Terra looks to relaunch another version of LUNA

 Following the tragic crash of LUNA and its sister stablecoin UST, Terraform Labs has reaffirmed their announcement to Launch Luna 2.0 and promises it to be a ‘genesis blockchain beginning from block 0 with no dApps launch’

The new blockchain has been confirmed for release on May 27 by Terraform Labs and has been announced that it will share no history whatsoever with Terra classic. 

The organization clarified that the plan is to “Fork the Terra chain into a new chain without the algorithmic stable coin. The old chain to be called Terra Classic (token Luna Classic – LUNC), and the new chain to be called Terra (token Luna – LUNA).”

The new tokens are set to be airdropped across Luna Classic stakers, Luna Classic holders, residual UST holders, and essential app developers of Terra Classic. 

 

Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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