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Usha Yadav
May 25, 2022
by Usha Yadav

By Listing the New LUNA Coin, Exchanges Express their Support for Terra's Revival

New LUNA Coin
The inclusion of Terra's brand new currency, also known as LUNA, on crypto trading platforms is the first evidence of support for the resurrected Terra network. On Wednesday, the HitBTC exchange announced on Twitter that Terra's new chain token Luna would be accessible on its platform on May 27.

The announcement comes as Terraform Labs prepares to relaunch its protocol on May 27 and replace the existing Terra Classic chain with the new Terra, or Terra 2.0, chain. Terraform Labs claimed on May 23 that the new chain would not be a fork because it will be built from the genesis block and will not share Terra Classic's history.

The new Terra token will be named Luna, replacing the old token referred to as Luna Classic (LUNC).

In mid-May, Kwon, CEO of Terraform Labs, suggested constructing a new Terra chain sans Terra's algorithmic stablecoin TerraUSD (UST), proposing LUNA airdrops to LUNC stakers and holders, UST holders, and Terra Classic app developers.

The idea garnered quick community support, with 91 per cent of Terra validators voting in favour of the Terra "rebirth" as of May 18. The community poll is still open as of this writing, with around 67 per cent of voters favouring Terra 2.0's revival.

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LUNA coin Terra's Revival
By Listing the New LUNA Coin, Exchanges Express their Support for Terra's Revival
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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