Terra New Blockchain Terra 2.0 Is Here, Expected Launch Date Announced

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    Terra 2.0 is coming.

    Terra 2.0 will take a snapshot at a block height 7,790,000, according to Terra’s official governance website.

    The earliest possible time for the snapshot is set to be at 16:20 UTC on May 26. Furthermore, Genesis supply was much lower than anticipated, at nearly 116.7 million with a projected increase to 182 million a year later.

    According to Wu blockchain: “Interpretation by Terra community members: the post snapshot block 7,790,000 and Terra 2.0 could happen as soon as Thu May 26, 2022, 16:20:00 UTC; The supply at genesis is closer to 116.7M rising to 182M after 1 year.”

    The following factors should be considered when calculating supply: The pre-attack Luna holder allocation applies to all holders with a snapshot balance of 10,000 Luna or less, 30% unlocked at genesis; 70% will be released two years later Unlock.

    This is done to ensure that the initial liquidity of Luna retail holders is comparable. This would cover 99.81 percent of Luna’s wallets, compared to only 6.45 percent of Luna’s total wallets prior to the attack.

    Yesterday Terra (LUNA) Team Confirmed that Terra 2.0 Is Not A Fork But an Entirely New Chain.

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    The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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