“LUNA 2.0 Will Show the World Just How Truly Dumb Crypto Gamblers Really Are,” says the creator of Dogecoin

Celsius Network

Billy Marcus, the founder of the biggest meme token, Dogecoin (DOGE), recently criticized the new blockchain, which was hastily designed to save the collapsed ecosystem and its teeming users.

In a tweet a few hours ago, Marcus said that the upcoming LUNA 2.0 token, which will be launched on the new blockchain on Friday, will show the world how stupid some crypto gamblers are.

Billy Marcus tweeted, “luna 2.0 will show the world just how truly dumb crypto gamblers really are.”

Marcus’ message indicates that he does not expect any crypto investor to trust the Terra team after the ecosystem’s mishap.

Read also: Australia’s Largest Bank Breaks Off Cryptocurrency Services After UST and LUNA Crashed

Terra Will Launch A New Blockchain To Recover Losses

Do Kwon’s proposal won the governance vote. This means that the Terra team is currently preparing to launch the new blockchain, which will result in an airdrop of LUNA 2.0 tokens to Terra (LUNA) holders on May 7, 2022, shortly before TerraUSD (UST) is depegged.

A quarter of the tokens will be distributed to users who hold UST or LUNA on Friday morning to reward their loyalty if they are held throughout the crash.

According to reports, the current blockchain will be renamed Terra Classic following the launch of its replacement.

The primary goal of the new blockchain is to give those users who were severely impacted by the collapse a chance at redemption.

According to Do Kwon, co-founder of Terraform Labs, the motivation for creating an entirely new blockchain was to support the larger platform built around the Terra blockchain.

Related article: Terra New Blockchain Terra 2.0 Is Here, and a Launch Date Has Been Announced

Do Kwon sad:

“While UST [the terra stablecoin] has been the central narrative of terra’s growth story over the last year, the distribution of UST has led to the development of one of the strongest developer ecosystems in crypto.

“The terra ecosystem and its community are worth preserving. Terra’s app ecosystem contains hundreds of developers working on everything from defi to fungible labour markets, state-of-the-art infrastructure and community experience. Although distressed, [terra has] strong brand recognition and a name that almost everyone in the world will have heard about.”