Terra 2.0 is coming tomorrow! When will the new LUNA airdrop be received, and what functions will it have?
Tomorrow, after much discussion, Terra 2.0 is finally about to arrive. On the eve of this important moment, the Terra team has also provided the community with some key points to note, including the airdrop time and how to claim the new LUNA tokens.
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Terra 2.0 is Coming!
1/ Yesterday, we said Terra 2.0 is coming. Tomorrow, it arrives.
The community has been working around the clock to coordinate the new chain’s launch. Subject to potential change, we expect Terra to go live on May 28th, 2022 at around 06:00 AM UTC.
— Terra 🌍 Powered by LUNA 🌕 (@terra_money) May 27, 2022
After Do Kwon's proposal was officially approved on the 25th, Terra 2.0 is set to be launched tomorrow. The official announcement stated that the first block of the new chain will be generated after the vast majority of interconnected validators run simultaneously. Terra Station, Terra Finder, the Terra blockchain browser, and Terra Observer, Terra's dapp feeder, will also be fully supported. Popular dapps in the Terra ecosystem will also migrate gradually.
So what about the most important airdrop? The official team mentioned that it is expected to take place at 2:00 PM Taiwan time on 5/28. Detailed information on the airdrop ratio and lockup period can be found in this article.)
What Can the New LUNA Do?
To compensate UST and LUN holders, there is a new LUNA airdrop plan. What can this new token do? Terra officials stated that besides trading on exchanges, it can be staked with node validators to earn staking rewards, obtain governance rights, and be used with other dapps.
How to Claim the Airdrop?
This is divided into two categories. For users who do not store LUNC and UST on centralized exchanges, their airdrop will automatically appear in their wallets and they can view the token amounts still in lockup through Terra Station. For users who store their tokens on centralized exchanges, they must check the airdrop rules of the respective exchange.
Below are links to the airdrop rules of exchanges commonly used by Taiwanese users: