Yes, you read that correctly. May 27, 2022 is the launch date of a new blockchain called $LUNA 2.0.

     Do Kwon, the founder of Terra LUNA, offered $LUNA 2.0 after the catastrophe on May 11th, 2022. The community voted on the proposal to rename the existing blockchain and create a new blockchain, which received 65.50 percent of the vote. Only 13.2 percent voted against the fork, and rest abstained from voting.

Game of Names
To pave the way for Luna reboot, the old Terra and current Luna blockchain networks have been renamed "Terra Classic" and "Luna Classic," respectively.

Under Surveillance
After Terra passes a vote, the Financial Supervisory Service (FSS) of South Korea initiates a risk assessment. Do Kwon, the founder of Terra, is still on the radar.

Divided Opinions of Cryptoworld

     The crypto community is split on whether or not to endorse LUNA. Some exchange platforms are indicating early support for Terra rebirth, including as Binance, Huobi, and others. However, certain platforms, such as Lido Finance, have stated that they will not support the new blockchain.

Popular Before Launch
     People appear to be quite excited (or may not be, but they are searching for LUNA 2.0), as Google Search shows a lot of interest in the keyword "LUNA 2.0."

There is no Stablecoin
     The algorithmic stablecoin will not be used on this new blockchain. The fall of the TerraUST stablecoin is thought to be the primary cause of the Terra Classic blockchain's destruction, thus there is no such risk this time.

Rewarding HODLers

     Destribution is being done with the use of snapshots to reward HODLers. Pre-crash LUNA and UST HODLers will receive 35% and 10% of the tokens, respectively, while post-crash HODLers will receive 25% of the tokens.