Home » Terra Luna 2.0 Proposal Passed, Do Kwon Disputes Rumors

Terra Luna 2.0 Proposal Passed, Do Kwon Disputes Rumors

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The Terra Luna 2.0 Revival Plan was formally passed, with more than 65% voting in favor, 20.98% abstaining, 0.33% vetoing, and 13.20% vetoing. This means that a new Terra chain will be created and Luna will be airdropped to LUNA Classic stackers, holders, remaining UST holders, and critical app developers. LUNA prices are currently trading at $ 0.0001846, up over 13% in the last 24 hours.

Luna 2.0 is official

Terra Builders Alliance: Rebirth With the official approval of the Terra Network proposal, the timeline for future chain transitions will be faster than you might think.

On May 25th, the Essential App Developer registration should be complete, and on May 27th, the Genesis file should be created from the final launch snapshot and the network should boot.

This means LUNA 2.0 will be released this Friday, and it’s interesting to see how the new chain works.

UST continues to trade at a very low level, currently at $ 0.07528, with a 24-hour trading volume of $ 66 million and a market capitalization of $ 894 million. Last night, the UST fell to $ 0.06 again and then temporarily jumped to $ 0.32.

It makes sense for UST to continue trading at a low level, as the new LUNA chain does not include Stablecoin in its ecosystem.

Will Do Kwon Respond to Rumors?

Rumors spread on Twitter that Do Kwon, the founder of Terra Luna, contacted the top five exchanges in South Korea and requested a list of LUNA 2.0. Do Kwon replied, “Yeah, no, I didn’t.”

Twitter users continued to criticize DoKwon’s reaction to these ridiculous comments. @FatManTerra says:

“Why respond to the claims from the Clickbait glyphers of the scum layer, rather than answering legitimate community concerns about TFL costs, LFT deployments, and LFT airdrops?”

Do Kwon replied:

Do Kwon has been very active on Twitter for the past few weeks, reaching 1 million followers with all the attention that LUNA received, positive or negative.

Fortunately, the Terra Luna community has a resurrection plan that we are looking forward to. This means that LUNA may still regain some of its reputation and rise from the ashes.

Even at current prices, LUNA’s market capitalization is well above $ 1 billion and is currently valued at $ 1.2 billion. With 24-hour trading volume of $ 744 million, the LUNA market has momentum to show significant growth even after the launch of a new chain.

Now it may be a great opportunity to buy LUNA for anyone looking to buy a dip and take advantage of the chain launch scheduled for May 27th. At the same time, if communities fail to provide new sustainable value to ecosystems, LUNA could fall below the $ 1 billion market capitalization and continue to decline.

One way LUNA could succeed was that it became a kind of cult, just as SHIB won a multi-billion dollar valuation without any real usefulness other than being a meme coin. If. The Terra community is one of the most robust communities on the market, and it’s no surprise that it unites and takes LUNA 2.0 to new heights.

Disclosure: This is not trading or investment advice. Be sure to do a survey before buying cryptocurrencies.

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