Terra gets second life as new blockchain goes live with LUNA 2.0 airdrop
Luna 2 goes Live Source
Hey Everyone,
The continuing saga of Luna and Terra Labs the New Luna or Luna 2 chain is now live and producing blocks.
While starting out strong it seems to be seeing some sell off despite precautions taken to reduce a run of selling.
The price when I woke up at 5 am Pacific time was around $8.5, and now has dropped to $6ish
Will this drop be a money grab trying to make up for the lost wealth in Luna Classic, it's token now called LUNC, or will this be the beginning of a long grind back to viability for a successful project? In my opinion it depends if the Luna Community decides to rally around the rebuild or takes their apps and time and move on to other chains.
Some Apps are clearly going to give it a go, some of the apps have now migrated to the new chain, including Astroport, Prism, RandomEarth, Spectrum, Nebula, Terraswap, Edge Protocol and others.
There are some complicated rules in place regarding the drop, how much of it is liquied and where and when it can be moved. Again, I find myself fascinated with the developments. Most of my exchanges have swapped old balances to LUNC, but haven't started trading LUNA yet in the form of LUNA 2.
It seems they will try to support the Developers and Apps that stick around.
Of course with any airdrop we would expect to see some sell off first, but time will tell if they are able to reestablish trust and rebuild.
Will you buy? Will you receive any tokens and will you sell? Personally, I am just watching for now.
Other Luna Topics I've covered.
Polygon offers to Support Luna Projects
Let me know what you are thinking about these recent developments
@whatsup