Do Kwon Unveils Terra Revival Plan 2
The entire motivation for the revival plan 2 came from the belief that the Terra ecosystem is much bigger than UST.
📌 Revival Plan 2 Summary.
🔸 The old Terra chain will be forked into a new chain without the algorithmic stablecoin. The old chain will be tagged as Terra Classic (token Luna Classic – LUNC), and the new chain will be called Terra.
🔸 New LUNA will be airdropped to Luna classic stakers, Luna classic holders, residual UST holders, and the essential app developers of Terra Classic.
🔸 The whitelist of the airdrop will remove the TFL wallet, which will make Terra a complete community-owned chain. The Terra 2.0 will have a fixed supply of 1,000,000,000 LUNA.
The proposal for the governance vote is on May 18 Asia time. If the proposal passes, the team will coordinate with the validators for launch on May 27.
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