LUNA Eyes Gigantic Comeback As Crypto Exchanges Throw Their Weight Behind “Terra’s Rebirth”

The Terra team has stated that the Terra 2.0 network will go live on Friday, May 27, 2022, with LUNA being airdropped to qualifying LUNC, USTC, and UST holders at the time of genesis. The Terra team announced in a Medium post dated May 26 that it planned to distribute 30% of the LUNA airdrop “immediately” at Genesis to pre-attack users who had fewer than 10,000 LUNA in their wallets or who had deposited UST in Anchor, a lending and borrowing protocol. Before distributing LUNA to other eligible users, it will airdrop the stated assets to post-attack users with any quantity of LUNA and or UST. Terra further announced that the new chain will support all assets, chains, bridges, and centralized exchanges (CEXs), allowing users to transact immediately after receiving their tokens. Crypto exchanges have responded to the announcement. Terra’s rebranding and airdrops will be supported by Upbit, South Korea’s largest crypto exchange by traded volume. “Existing LUNA will be renamed to Luna classic (LUNC) and new LUNA tokens will be airdropped to existing LUNA holders,” the exchange said in a Thursday announcement. To ensure a seamless distribution, the exchange announced that the withdrawal of LUNC (previously Luna) would be suspended starting at 19:00 Korean time on May 26. FTX has said that it will assist with the LUNA airdrop and that LUNA and UST deposits and withdrawals would be suspended today. Details, such as scheduling, impleme...