LUNA Fiasco Continues, Terra 2.0 Launch Delayed for a Day

Terra Money made an announcement on social media stating the migration of Terra 2.0 and its token LUNA airdrop is delayed to May 28 at 06:00 AM UTC. Though the reason behind this delay is unrevealed, validators’ work on the genesis and coordinating exchanges disagreement to support seem to be the possible causes behind the delay.

1/ Yesterday, we said Terra 2.0 is coming. Tomorrow, it arrives.

The community has been working around the clock to coordinate the new chain’s launch. Subject to potential change, we expect Terra to go live on May 28th, 2022 at around 06:00 AM UTC.

— Terra 🌍 Powered by LUNA 🌕 (@terra_money) May 27, 2022

The proposal for Terra 2.0 stated the new blockchain would launch at noon, on May 27. However, the Terra 2.0 testnet is already up and running while the mainnet will be launched tomorrow.

With Terraform Labs CEO, Do Kwon, claiming Terra 2.0 to be the most decentralized blockchain ever, several exchange portals, users, developers, and validators are voicing their support for the revival of LUNA.

Terra will be sharing a preultimate-genesis.json file with validators ahead of the Genesis and collect all gen_tx’s from them. Thereafter, block 1 of the new chain will be formed with interconnected validators running successfully. The LUNA airdrop will happen in block 1.

Moreover, after the mainnet Terra 2.0 goes live, the blockchain explorer Terra Finder, dApps’ feeder, Terra Observer, and the Terra Station will function normally. Besides, the dApps on Terra Classic will also be migrated to the new chain.

Their launch timing will depend on several factors including team bandwidth, so we’ll let you hear from them directly about their plans.

Despite undergoing several scrutiny and investigations, Terra receives support from multiple exchanges, such as Binance, Upbit, Bitget, Bitrue, Bitfinix, BigONE, Bybit, Kraken, KuCoin, OkCoin, Gate.io, AutomaticWallet.io, LBank.info, Huobi, HitBTC, FTX, OKX, and MEXC Global.

According to reports, Bitrue would be the first to feature the launch, followed by other exchanges. However, the Terra team will be releasing the finalized list of exchanges participating in the launch shortly.