The fall of LUNA and the Terra ecosystem has shaken the entire crypto market. Investors went through their toughest test, witnessing their investments vanish in a day. The single event even broke the trust and hope that many vested in crypto. Do Kwon proposed different plans to revive the LUNA ecosystem. Finally, the team seems to have finalized its revival plan. Terra’s new revival plan includes the launch of LUNA 2.0.
Following the collapse of the stablecoin UST, LUNA 2.0 will be a whole new Terra blockchain token meant to save the Terra ecosystem.
Do Kwon, the founder of TerraForm Labs, suggests that the current Terra network be replaced with a new chain. LUNA 2.0 will also supersede the previous version. The current vote seems to have succeeded with a 65.50% vote, and LUNA 2.0 is set to launch on May 27, 2022.
Exchanges that will list LUNA 2.0
A few of the top exchanges have shown their support for launching LUNA 2.0 on their platform. One of the exchanges that showed the initial support is HitBTC.
HitBTC was not the only exchange that extended support. Binance also announced its support for the new plan.
“We are working closely with the Terra team on the recovery plan, aiming to provide impacted users on Binance with the best possible treatment. Stay tuned for further updates.”Binance
The Bitrue exchange has also announced that it will be the first to launch LUNA V2 trading on May 27.
At present, the actual figures for the number of exchanges that will support the launch of LUNA 2.0 are unclear. But looking at the prominent exchanges extending the support, it will most likely be followed by other exchanges. May 27 seems to be the day that decides whether the Terra ecosystem will keep up or fade away.