Following the community's decision to separate the Terra ecosystem without the algorithmic stablecoin, the team has announced the protocol's debut date as well as the LUNA airdrop.
One of the main distinctions between the protocol-to-be and its previous form is that the team will not construct an algorithmic stablecoin to prove that Terra's ecosystem is "more than just UST."
The team shared more specifics in an official Twitter thread, including the airdrop date, when the photos were shot, and when the new procedure will go live.
Terra 2.0 is on its way, as we have promised. It will be delivered the next day. The community has been planning the launch of the new chain around the clock. Terra is set to go live on May 28th, 2022 at approximately 6:00 AM UTC, but this is subject to change.
The inaugural block of the new chain will be created by "a supermajority of interconnected validators running simultaneously."
As per the block explorer, Terra Station, and the dApp feeder (Terra Observer) will all be fully functional once the chain is up and running.
The airdrop to LUNA and UST holders as a means of compensating them for losses incurred during last month's disaster is without a doubt one of the most hotly debated topics in recent months.
Eligible holders of LUNC (Luna Classic), USTC (UST Classic), and aUST will receive the LUNA airdrop on the new chain at genesis, according to a Medium blog.
The kind of tokens you own on the Terra Classic chain, the duration you held them (based on Pre-Attack and Post-Attack snapshots), and the number of tokens you owned will determine the amount of LUNA you are eligible to receive.