Introduction

What is Terra?

Terra is an open-source blockchain hosting a vibrant ecosystem of decentralized applications (dApps) and top-tier developer tools. Using proof-of-stake consensus and ground-breaking technologies like Mantlemint, Terrain, and Station, the Terra blockchain is one of the fastest chains in existence, giving users an unparalleled DeFi experience. As a permissionless, borderless economy, Terra enables next-generation financial products accessible to anyone with an Internet connection.

What is Luna?

Luna is the Terra protocol’s native staking token. Luna is used for governance and mining. Users stake Luna to validators who record and verify transactions on the blockchain in exchange for rewards from transaction fees. On May 25th, 2022, Terra Classic users passed governance proposal 1623, which outlined the genesis of a new Terra chain

What is Terra Luna 2.0?

Terra 2.0 is the most recent version of Terra (LUNA), which is what Do Kwon has devised as a regeneration strategy. The goal is to propose a fork of the Terra blockchain and an airdrop to crypto investors whom the recent market downturn has impacted. The main goal is to restore trust in this stablecoin through the Terra ecosystem's new venture. Terra 2.0's policy occasionally issues additional LUNA tokens to crypto investors who purchased more than 10,000 LUNA before the catastrophic harm to this stablecoin. It will help to keep Terra 2.0 from being sold right away. More than 300% of crypto investors' LUNA tokens will be unlocked at once, with the remaining 70% issued over two years. These crypto investors will receive the new Terra 2.0 tokens after six months.

Point

Despite their striking resemblance, LUNA Classic and LUNA 2.0 are not the same. The Terra network has been divided into two chains based on the new governance plan. Terra Classic with Luna Classic tokens (LUNC) will be the old chain, whereas Terra with LUNA tokens will be the new chain called LUNA 2.0.

M-Reza