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

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According to Terra’s official governance website, Terra 2.0 will take a snapshot at a block height of 7,790,000.

The snapshot’s earliest possible time is set for May 26 at 16:20 UTC. Furthermore, the supply of Genesis was much lower than expected, at nearly 116.7 million, with a projected increase to 182 million a year later.

According to Wu blockchain: “Interpretation by Terra community members: the post snapshot block 7,790,000 and Terra 2.0 could happen as soon as Thu May 26, 2022, 16:20:00 UTC; The supply at genesis is closer to 116.7M rising to 182M after 1 year.”

Read also: “Cryptocurrency Needs Regulation!”: Says U.S Treasury Official After Terra Fell Off

When calculating supply, the following factors should be considered: The pre-attack Luna holder allocation applies to all holders with a snapshot balance of 10,000 Luna or less, with 30% unlocked at the genesis and 70% unlocked two years later Unlock.

This is done to ensure that Luna retail holders’ initial liquidity is comparable. For example, this would cover 99.81 percent of Luna’s wallets, whereas only 6.45 percent of Luna’s total wallets were covered before the attack.

Related article: Terra Regains Value: LUNA Market Cap Shoots Above $1 Billion

The Terra (LUNA) team confirmed yesterday that Terra 2.0 is not a fork but an entirely new chain.