Terra Community Approves Proposal to Relaunch Blockchain

Terra Community

Blockchain platform Terra has accepted a proposal by its co-founder to relaunch the network, with the mainnet expected on May 27.

The suggestion, which Do Kwon forwarded, also seeks to mint LUNA 2.0 tokens which will be airdropped to UST holders, developers, and Luna Classic token holders.

65.5% of the total votes were cast in favor of the proposal, while 13.2% opposed it with a veto. 20% of the voters abstained.

The new blockchain will operate without the UST stablecoin, which was the initial purpose. The airdrop will be based on predetermined proportions.

Terraform Labs CEO Do Kwon proposed a new network following the death spiral of Terra’s LUNA and stablecoin UST. The existing blockchain was renamed Terra Classic, and the new network is called Terra.

Source: Terra Station 

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