There will be a migration and airdrop for LUNA and UST to help the community, and many exchanges will support it. Huobi, Bybit, and KuCoin have announced their support for the migration in different blog announcements. There may be more exchanges to follow, and this move may help the ecosystem recover faster.
Which Exchanges Support the Migration?
It was announced by HuobiGlobal that they would be offering support for LUNA and UST migration and described the process in detail. A post on the announcement page states migration and upgrade of LUNA will take place when the block height reaches 7790000, which will be on May 27, 2022, morning GMT+8, 00:00. The Huobi Global team is supporting this migration and upgrade for the LUNA token, which will be subsequently airdropped via new tokens. As part of the subsequent airdrop, we will be taking a snapshot of the balance of LUNA and UST in each user’s Huobi Global account at block 7790000.
As part of the announcement, Bybit talks about the Luna 2.0 project. As it appears, Terra is moving forward with the creation of a new chain, Terra 2.0, whereas Terra Classic will soon be re-branded as Terra Classic. In order to reflect this change, Bybit is renaming its LUNA token and its UST token accordingly. As part of the company’s migration to the new brand, LUNA is going to become LUNC, and UST will become USTC.
Bybit will introduce three new spot trading pairs for users on May 26, 2022, at 6 am UTC, LUNC/USDT, LUNC/USDC, and USTC/USDT. Existing holders of LUNA/UST on Bybit will receive the new tokens (Terra 2.0 chain) via airdrops from Terra and will receive them in their Spot Accounts. In the near future, Bybit will also be able to support new LUNA trading pairs as well.
KuCoin will make it possible for Terra (LUNA) tokens and TerraUSD tokens (UST) to be migrated and airdropped, as well. In an announcement put out by KuCoin, it was informed that the coin would take both Pre-Attack and Post-Attack snapshots of users’ LUNA and UST assets when the block height reaches 7544910 and 7790000, which are scheduled to happen at 14:59:37 on May 7, 2022 (UTC) and 19:59:51 on May 26, 2022 (UTC).
The Terra 2.0, which replaces Terra Classic, is set to inherit the deep developer pool as well as the passionate LUNAtic community that has made Terra Classic the second largest smart contract blockchain after Ethereum.