Even to this day, the entire crypto sector literally trembles whenever there is a mention of the Terra crash. It proved to be a nightmare for millions of investors who had invested their lives into it. However, the debacle has already caused tremendous damage, and now, the crypto sector is in the recovery phase.
It may take longer but sooner or later, the crypto industry will make it back to the top. Other cryptocurrencies are also struggling hard for now but they may grow stronger in the upcoming days as well.
Therefore, you should not be losing hope in any cryptocurrency, even in Terra. Terra network is not some typical entity in the crypto-verse. It had exhibited a strong valuation and trading price before the incident took place.
It still has a lot of support from its community and even the major entities within the crypto-verse are fully aware of its potential. No one has lost faith in Terra and this is the reason it has decided to make a comeback.
Terra 2.0 is Close
Do Kwon, the co-founder plus the CEO at Terraform Labs has made sure that the Terra network doesn’t stay down for long. This is the reason why he has already started working on the recovery strategy for Terra.
On Thursday, the Terra network team announced that they will be replacing the old Terra with a new native token. The new native token will be offered through Terra’s all-new blockchain network that has been dubbed ‘Terra 2.0’.
Distribution of the New Native Token
While announcing the launch of the new blockchain plus the new native token, the Terra network team also announced the eligibility program. They announced that the new native token will be launched through an airdrop. The users who are the holders of former tokens from the Terra network will be eligible for the airdrop.
The eligibility of the users will be confirmed if they have Anchor Protocol UST (aUST), TerraUSD Classic (USTC), and Terra Luna Classic (LUNC) in their possession.
Every Major Exchange Wants to Offer the New Terra Token
Even when many investors are hesitant to even interact with the new token, the major exchanges are thinking otherwise. The major exchanges showed their support for the Terra network when it crashed, and they plan on doing the same with its new token’s launch.
It is a fact that almost every exchange took Terra network tokens off their offered tokens list. But they did it for the safety and security of their users’ funds and interests. Still, the exchanges continued providing support to the Terraform Labs in order to fix the problem.
The major exchanges that are eager to offer the new Terra coin include Binance, FTX, KuCoin, BitMEX, and MEXC Global.
With the given support, Terra’s new token price may surge the moment it is launched. So it is recommended you also become part of the launch and benefit from it.