Hash Notes

Luna 2.0

· Began as of May 28^th 2022. Since then, however, the token has slumped 40% as pre-crash LUNA and UST token holders continue to sell off new coins to make up for their losses during the Terra Luna crash.

· In a new plan proposed by Kwon, the Terra blockchain undergoes a hard fork, with the launch of Terra 2.0 and the old luna tokens being renamed into luna classic (LUNC). Kwon’s fork proposal has passed with 65.5% majority approval.

· The snapshot for Terra 2.0 provided by Kwon gives an idea of how the chain upgrade would work and states that the new Terra will be created without the algorithmic stable coin.

· The Terra Builders Alliance have provided technical details on integration, decentralized applications (dApps) migration, and a guide to rebranding the original Terra chain as ‘Terra Classic’.

· The old token was renamed into Luna Classic (LUNC), and while the original Cosmos chain will continue to operate, the option to mint or burn coins will be disabled. The new blockchain was launched on 28 May.

· In the latest LUNA 2.0 news, the world’s biggest cryptocurrency exchange Binance has listed the new Luna 2.0 token in its “Innovation Zone”, a space for more experienced and risk-tolerant traders to get exposure to new token offerings and innovative projects.