What is the New Terra network Luna2 Token airdrop?

Crypto.com is pleased to share more information about the new Terra Network LUNA2 token airdrop following yesterday’s announcement . The current (old) Terra chain has been renamed as Terra Classic, and the current (old) Terra token LUNA has been renamed as Luna Classic LUNC.

What is the Luna 2.0 airdrop & how does it work?

The LUNA 2.0 airdrop is another way to help the ecosystem move forward. According to the plans, eligible investors who held Terra ecosystem tokens will receive the new LUNA in their crypto wallets. What they receive will factor in how much they held before, how long they held it, and what exchanges and wallets they are working with.

Why did Terra airdrop a Lunc coin?

Importantly, the airdrop is part of a plan to revive this cryptocurrency’s ecosystem. The old tokens which associated with Terra’s algorithmic stablecoin ecosystem have since been rebranded. Terra’s original LUNA become LUNC, with TerraUSD’s UST now taking the USTC ticker. They will now trade as Terra Classic and TerraClassicUSD.

What is Luna 2.0?

Luna 2.0 is the brand new token of the Terra blockchain, launched in an attempt to save the Terra ecosystem after the crash of the UST stablecoin. A total of 1 billion new Luna 2.0 tokens were launched, which were to be airdropped to the investors that were affected by the massive crash.