What is the difference between Luna classic and Luna 2.0?

The difference between Luna classic and Luna 2.0 is that the new Terra chain works without the algorithmic stablecoin UST. The new chain aims to be a fully community owned chain.

What is Lana 2.0?

What is LUNA 2.0? As proposed by Kwon, the Terra blockchain underwent a hard fork, with the launch of Terra 2.0 and the old LUNA tokens being renamed as terra classic (LUNC). Kwon’s fork proposal passed with 65.5% majority approval.

What is the old Luna coin?

The old LUNA coin was part of a dual-token system along with Terra’s US dollar-pegged stablecoin Terra USD (UST). Terra USD is an algorithmic stablecoin, which means that its peg to the US dollar was ensured by algorithms and game theory, using a series of smart contracts to keep the price at $1.

How are the new Luna tokens distributed?

The new token, LUNA, was said to be distributed through an airdrop- that later took place on the 28th of May. With a total supply size of 1 Billion, the tokens were to be distributed to specific users in particular ratios. Binance announced its support for the airdrop and has successfully distributed the new LUNA tokens to the old LUNC holders.