Terra(Luna) 2.0 Testnet launched this week and users can expect to receive cryptocurrencies for free
A proposal for the formation of a new cryptocurrency was approved by the community weeks after the Terra (LUNA) collapsed. The existing LUNA will be renamed Luna Classic (LUNC), while the new cryptocurrency will keep the same name.
Both pre- and post-collapse LUNA holders will receive this new cryptocurrency, though in differing amounts. Additionally, UST holders will be also eligible for this airdrop.
The proposal for the creation of a new coin was called "1623" and written by Do Kwon, the TERRA's own founder. According to the text, this airdrop will be open to the whole community, including individuals who held LUNA and UST before or after the collapse of both cryptocurrencies.
The airdrop will be divided as follows:
- LUNA holders, pre-attack — 1 :~1.1
- aUST holders, pre-attack — 1: 0.033
- LUNA holders, post-attack — 1: 0.000015
- UST holders, post-attack — 1: 0.013
For such investors, 30% of their tokens will be released immediately. Another 70% will be issued over the course of two years. The goal of this operation is to keep the currency's price under control.
The launch of "Terra (LUNA) 2.0" is set for this Friday, May 27.
