Terra2.0 vs Terra LUNA Classic
The main difference between the old Terra and Terra2.0 is that the new chain is launching without the algorithmic stablecoin $UST.
The purpose of this as proposed by CEO Do Kwon is for Terra2.0 to focus more on growing out its Layer 1 ecosystem like Anchor Protocol, instead of being centered around a stablecoin. This means Terra2.0 will operate more like a traditional smart control platform such as Ethereum, Avalanche, Solana or Fantom.
Terra2.0 Airdrop Details
The launch of Terra2.0 also includes an airdrop of new LUNA tokens that will be distributed to holders that were affected by the LUNA and UST crash.
The genesis event and airdrop date for LUNA is May 27th, 2022, and its distribution under the proposal outlined by Do Kwon is as follows:
- Community pool: 30%
- Pre-attack LUNA holders: 35%
- Pre-attack aUST holders: 10%
- Post-attack LUNA holders: 10%
- Post-attack UST holders: 15%
Is Terra2.0 Safe?
The Terra2.0 ecosystem will be considerably safer than the initial platform because it does not rely on the algorithmic stablecoin UST. In the initial design that collapsed, LUNA had to be sold to help UST maintain the peg, which resulted in a price ddeath spiral between $UST and $LUNA.
For a comprehensive breakdown of Proposal 1623, read the official thread published by Terra Labs.
Terra2.0 Ecosystem and Exchange Support
The Terra2.0 project has been widely supported by major centralized exchanges like Bybit, Binance, Gate.io and many others. This means that if you hold LUNA tokens on a centralized trading platform, you will automatically get airdropped the Terra2.0 token.
Terra Luna Classic ($LUNC) Price
The chart below is the live price of Terra Luna Classic (LUNC) in US Dollars.
Terra2.0 LUNA Price
The chart below is the live price of Terra2.0 ($LUNA) in US Dollars.