- Terra 2.0 will go live on May 28
Terra says that many of the decentralized applications (dApps) that the users of the original blockchain (Terra Classic) love are ready to migrate to the new Terra blockchain. The team announced that the new blockchain launch will go live on May 28, at 6.00 AM UTC. It was originally planned for Friday, May 27.
This shift in date is according to a new update from the Terra team, who said that the speed at which the chain is coming up is a testimony to the commitment of the community, exchange partners, validators and developers of the Terra ecosystem.
New Date is Subject To Change
In a May 27 post on Twitter, the Terra team said that subject to a potential change in date, that May 28 has been scheduled for the launch of the new chain.
The update also highlighted the events that will lead to the launch. These are instructions to validators on the steps to synchronicity of their operations leading to the commencement of the genesis block.
The statement says that:
“Block 1 of the new chain will be produced following a supermajority of interconnected validators running simultaneously”
The statement adds that the Terra explorer and dApp feeder will concurrently go live as the new blockchain is launched.
The release further said,
“Many of the dApps you know & love from Terra Classic have committed to migrating to Terra. Their launch timing will depend on several factors including team bandwidth, so we’ll let you hear from them directly about their plans (which we can’t wait to hear as well”
The team said that LUNA 2.0 will be listed in many of their favorite exchanges. It encourages investors to be on the lookout for updates from exchanges regarding their participation in Terra 2.0. It states that:
“The finalized list of those participating in the launch will be out soon, so stay tuned”
LUNA 2.0 Airdrop
The release also highlighted the upcoming LUNA airdrop scheduled for May 28. Users expecting the LUNA airdrop are advised to check with their exchanges on the mode and details of the specific exchange that they’re using.
The original Terra blockchain has been renamed Terra Classic, while the new blockchain, Terra 2.o will be known as Terra. LUNA, the cryptocurrency of the ecosystem will be known as LUNA Classic (LUNC), the new currency will be called LUNA.