Terra 2.0 relaunches according to Do Kwon's revival plan

Cointelegraph

Published May 28, 2022 06:47AM ET

Updated May 29, 2022 08:40AM ET

Do Kwon, the co-founder and CEO of Terraform Labs, confirmed the relaunch of Terra’s new chain, Terra 2.0, which aims to revive the fallen Terra (LUNA) and TerraUSD (UST) ecosystem.

Kwon’s revival plan for Terra involves hard forking the existing blockchain and reissuing LUNA tokens to existing investors based on a snapshot before the death spiral bled the LUNA and UST markets — effectively resulting in unrecoverable losses for investors.

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