Terraform Labs chief Do Kwon announced the launch of the Terra 2.0 mainnet, designated Phoenix-1. He said LUNA airdrop participants have already received tokens — to view the balance, you must connect to Terra Station.
To view your $LUNA (or $LUNA2 as some exchanges call them) token balances, you only need to log into station and refresh the page
For new users coming in from IBC et all, create a station wallet with the same ledger and station should walk you through the remaining steps https://t.co/1ZKmCGKLvp
— Do Kwon 🌕 (@stablekwon) May 28, 2022
Kwon added that new participants from the Inter-Blockchain Communication Protocol ecosystem should connect to Terra Station using the same network through which they previously interacted with Terra Classic.
The Terra Finder block explorer added support for Phoenix-1. According to the service, as of writing the network had produced more than 330 blocks.
Terraform Labs said that users can perform operations with liquid LUNA, including staking, trading and transactions with decentralised applications after launch.
3/ Users can do multiple things with their liquid $LUNA, including staking it on Terra Station to their preferred validator(s) to earn rewards & participate in governance decisions, using it on dApps upon launch, or trading it on an exchange.
— Terra 🌍 Powered by LUNA 🌕 (@terra_money) May 28, 2022
«Since Terra 2.0 is a native chain, and not a fork, dapps from Terra Classic will have to be restarted on the new blockchain», — the developers reminded.
LUNA tokens in vesting are automatically enrolled in staking. Users can select a validator via redelegation or undelegation. In the latter case, a 21-day waiting period applies.
According to Terra Station, the total supply of LUNA is fixed at 1 billion tokens — of which more than 328 million coins are in the community pool. The remaining cryptocurrency is allocated in the airdrop.
The Terra 2.0 launch was supported by many centralized exchanges, including Binance, Huobi and Kraken. Most platforms have not yet announced the start of LUNA trading. However, some industry participants have already disclosed the timing of the opening of the corresponding spot market.
Crypto exchange Bybit opened access to the LUNA/USDT market. Trading started at $0.50, and within an hour quotes for the asset rose sharply — at the time of writing the price stands at $17.55.
Access to LUNA was also opened by OKX, Gate.io, Bitrue and KuCoin.
Binance is distributing LUNA to users and will launch trading for the asset in USDT and BUSD pairs on May 31 at 09:00 (Kyiv/Moscow time).
Deposits and withdrawals of LUNA will open in advance — at 08:30.
The team is working flat out to distribute the $LUNA airdrop to #Binance users.
We have a big user base, so please bear with us as we process the airdrop. Need a bit of time to execute. Thanks 🙏 https://t.co/m9SOcMQT8P
— CZ 🔶 Binance (@cz_binance) May 28, 2022
For example, the MEXC exchange will open access to LUNA in the USDT pair on May 28 at 13:00 (Kyiv/Moscow time). The pair will trade in the platform’s Innovation Zone.
📈 $LUNA/USDT will list as a spot trading pair in the Innovation Zone! (Trading will open when the liquidity standard is met) @terra_money
Details: https://t.co/WBIZkTBsJ0
💚Sign up: https://t.co/9v8Mpo8sq0#Terra #MEXCListing #findnextmoonshot pic.twitter.com/WrOjOEDtIH
— MEXC Global (@MEXC_Global) May 28, 2022
Back in May 26, the Terra Classic community approved a proposal to burn TerraUSD (UST), held in the community pool, as well as stablecoins issued in the final stage of liquidity mining on the Ethereum blockchain.
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