Skip to main content

Terra LUNA 2.0: Crypto exchanges Huobi and Binance show their support

 


Crypto exchange Huobi pledged its support to Luna 2.0 after the Terra community voted for Proposal 1623.


Crypto exchanges Huobi, Binance and Bybit have signaled their willingness to work with the Terra team to launch their new chain without an algorithmic stablecoin . The company made the announcement within an hour of accepting the proposal. Huobi tweeted, “ #Huobi supports the launch of #LUNA 2.0 on May 27th. Are you ready for the “LUNA Rebirth”? ” It was only towards the end of last year that Huobi listed Terra on its platform.


Binance previously suspended trading . The reason for this was that the blockchain was stopped by validators. This made trading impossible. Following Terra's announcement, Binance tweeted, “The Terra community just voted to rebuild the Terra Network. We are working closely with the Terra team on the recovery plan to provide the best possible response to impacted Binance users. Stay tuned for more updates.”


Bybit will suspend LUNA and UST payouts on May 25, 2022 at 2pm UTC. LUNA will then be renamed to LUNX and UST to USTC on May 26, 2022. On May 27, 2022, Bitrue will start trading Luna V2.


Bybit and Bitrue are helping with the new Terra token airdrop

In a well-documented disaster, Terra's algorithmic stablecoin UST lost its dollar peg earlier this month. At the same time, sister coin LUNA also collapsed. Founder Do Kwon has come up with a new proposal to create a new blockchain after the Luna crash. The original Luna token will be renamed LUNA Classic (LUNAC). The new token, LUNA, will then run on a new blockchain without an algorithmic stablecoin . The original UST will remain on the Terra Classic blockchain.


30% of the new LUNA tokens will be airdropped into a community pool. This is managed by LUNA Classic tokens. At the same time, 35% will be distributed to those who already held LUNA before the collapse. 10% goes to people who already held UST before the collapse. Another 10% will be distributed to those who hold LUNA after the collapse and 15% to UST holders. A snapshot is taken at Terra Classic Block 7544910. The snapshot capturing holders after the collapse occurs at block 7790000. Bybit and Bitrue will act as partners for the airdrop .


Developers show their support for the new blockchain

Kwon asked several developers to publicly show their support for the new blockchain. From the developer ecosystem, there have been a few showing their support. These include HERO , a developer minting on Solana and Terra Classic NFTs. Spectrum Protocol, a yield optimizer on Terra Classic. Terra Name Service , a service offering .ust domain names. And Falcon Wallet , a multichain web 3.0 wallet .


On May 25, 2022, Guru had hinted that founder Do Kwon had asked the top five exchanges in China to list LUNA 2.0. A claim he later denied.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action that the reader takes based on the information found on our website is entirely at their own risk.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

From offchain to offchain: Statechains meets Lightning

  Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin
Post a Comment
Read more

MSP Recovery and Tokenology aim to optimize healthcare with the help of Polygon

  MSP Recovery LLC, a Miami, US-based healthcare provider with an estimated enterprise value of $32.6 billion, is partnering with Web3 company Tokenology to jointly launch a new blockchain platform called Lifechain. Lifechain wants to leverage the verifiable and transparent nature of blockchain technology to aggregate medical care claims, medical expense reports and patient data and streamline their processing. For this purpose, MSP Recovery launched its own LifeWallet in January, which already has 1 million users. In addition to the wallet and blockchain platform, an associated crypto token called LifeCoin is also used. The press release explains that the primary purpose of the system is to enable secondary healthcare providers to more effectively bill health insurance companies for their costs. “The number of medical claims tokenized going forward will surpass $50 million per day by 2024. For this we need scalability, security and sustainability, which we have only found with Polygon
Post a Comment
Read more

Phishing attack on popular crypto sites tries to empty wallets

  Several major crypto sites such as Etherscan, CoinGecko, DeFi Pulse, and others report malicious pop-ups scammers use to try to trick users into connecting their MetaMask wallets. The phishing attack came from a domain displaying the Bored Ape Yacht Club (BAYC) logo. "We are investigating the root cause of this attack to fix the threat as soon as possible," CoinGecko founder Bobby Ong tweeted. The phishing attack appears to have been triggered by a malicious ad script from Coinzilla, a crypto ad network, according to CoinGecko. Etherscan also advises its users not to confirm any transactions that may appear on the website. The attackers attempted to use the hype around the “bored monkeys” non-fungible tokens (NFT) to gain access to the cryptocurrencies of unsuspecting website visitors. Although the websites affected by the scam attempt have reacted in the last few hours and deactivated the advertising pop-up, it is still recommended not to connect your MetaMask wallet to ne
Post a Comment
Read more