{"id":47570,"date":"2022-05-18T18:54:42","date_gmt":"2022-05-18T16:54:42","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=47570"},"modified":"2022-05-18T18:54:42","modified_gmt":"2022-05-18T16:54:42","slug":"terra-builder-alliance-shares-a-proposal-for-the-new-terra-chain-2-0","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/terra-builder-alliance-shares-a-proposal-for-the-new-terra-chain-2-0\/","title":{"rendered":"Terra Builder Alliance Shares A Proposal For The New Terra Chain 2.0."},"content":{"rendered":"

Terra is undergoing some challenging times<\/strong> since both of its tokens, LUNA and UST crashed<\/a><\/strong> pretty hard. However, since its crash, the network is finding ways<\/a><\/strong> of making a strong comeback in the market. The Co-Founder of Terraform Labs, Do Kwon<\/strong> has remained hyperactive<\/strong> in structuring a roadmap for the revival of the network.<\/span><\/p>\n

<\/p>\n

Moreover, the Terra Builder Alliance has<\/strong> recently presented a visionary<\/span> proposal<\/a><\/strong> for the new Terra Chain 2.0<\/strong>. Each stakeholder has majorly<\/span> contributed<\/strong> to the LUNA Go Forward Proposal<\/strong>. The proposal clarified that the Terra ecosystem and its community<\/strong> have a strong history that is worth preserving.<\/span><\/p>\n

https:\/\/twitter.com\/TerraBuildersU\/status\/1526848409100922880<\/p>\n

With hundreds of developers, strong infrastructure, a solid community, and an exemplary Terra station<\/strong>, the network is anything but dead. Also, the document emphasized how the de-pegging of UST from $1<\/strong> provides a new opportunity to rise again.<\/span><\/p>\n

Terra Chain Might Develop Without the Use of an Algorithmic Stablecoin<\/span><\/h2>\n

The Terra Builder Alliance suggests forking the Terra chain<\/strong> into a chain that no longer requires the algorithmic stablecoin<\/strong>. It is a somewhat similar move to Ethereum, as the old chain<\/strong> will be renamed Terra Classic<\/strong>. Its native coin will have the name of LUNA Classic, LUNC<\/strong>. Nonetheless, the new chain<\/strong> will have the name Terra, and LUNA will be its native coin.<\/span><\/p>\n

\"Terra<\/p>\n

To reward the current stakers and holders<\/strong> of LUNA Classic, the new LUNA token will be distributed among them through an airdrop<\/strong>. It will also be distributed among UST holders and app developers of LUNA Classic<\/strong>. Moreover, Terra will become a community-owned chain<\/strong>.<\/span><\/p>\n

In the new LUNA\u2019s token distribution, 0.5%<\/strong> of the total supply will be kept as an emergency allocation<\/strong>. Another 1.50%<\/strong> of the token supply will be saved for the developer alignment program<\/strong>, and 8%<\/strong> of the tokens will be allocated to the developer mining program<\/strong>.<\/span><\/p>\n

In the token\u2019s overall distribution, 35%<\/strong> will go to pre-attack<\/strong> LUNA holders. A further 25%<\/strong> will go to the community pool<\/strong>. About 10% tokens<\/strong> will be specified for pre-attack aUST<\/strong> holders<\/strong>. Another 10%<\/strong> will be kept for post-attack <\/strong>LUNA holders. The remaining 20%<\/strong> will be given to the post-attack UST holders<\/strong>.<\/span><\/p>\n

The pre and post holder details<\/strong> will be derived from the snapshots<\/strong> taken by the network on different block heights<\/strong>. In the proposal, the stakeholders also presented a timeline for different events in the chain upgradation procedure<\/strong>. The final network launch date is set to be May 27<\/strong>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Terra is undergoing some challenging times since both of its tokens, LUNA and UST crashed pretty hard. However, since its crash, the network is finding ways of making a strong comeback in the market. The Co-Founder of Terraform Labs, Do Kwon has remained hyperactive in structuring a roadmap for the revival of the network.<\/p>\n","protected":false},"author":22,"featured_media":47571,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[70,74,122],"tags":[4752,5483,5530],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/47570"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=47570"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/47570\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/47571"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=47570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=47570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=47570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}