Delayed! Terra 2.0 delayed and here’s everything you need to know

Sahana Kiran
Source – Unsplash

The infamous Terra crash left the entire community in a pool of loss. Now, however, the network intends to resurrect itself with the launch of Terra 2.0. While this chain was all set to go live today, the network affirmed that there was a slight delay.

Do Kwon, the founder of the network pitched the idea of Terra 2.0 to LUNA holders and managed to attain 65.50 percent votes for the same. While this proposal got all the approval from the LUNA community, an array of exchanges also poured in support.

From Binance to Kraken, several leading crypto exchanges revealed that they would onboard Terra’s revised cryptocurrency LUNA 2.0. Bitrue would reportedly be the first exchange to launch LUNA 2.0.

These exchanges and the community, however, have to wait another day. Elaborating on the latest delay, Terra further tweeted,

“The community has been working around the clock to coordinate the new chain’s launch. Subject to potential change, we expect Terra to go live on May 28th, 2022 at around 06:00 AM UTC.”

Additionally, the original network would be called Terra Classic while the latest version would be Terra 2.0.

LUNA 2.0 airdrop also delayed

Along with the proposal for the fork, the team also pitched in the idea of an airdrop of LUNA. This was supposed to occur on the launch date of the revised version of the network. Considering the latest set back the airdrop will also take place tomorrow following the launch.

Additionally, it can be noted that several in the community weren’t on board with Kwon’s fork proposal. However, the LUNA holders were. As a result, the community has been deeply inspecting the launch of Terra 2.0. While the market remains dubious of the revised network, the possible success of Terra 2.0 could be historical.