Terra gets second life as new blockchain goes live with LUNA 2.0 airdrop
Luna 2 goes Live Source
Hey Everyone,
The continuing saga of Luna and Terra Labs the New Luna or Luna 2 chain is now live and producing blocks.
While starting out strong it seems to be seeing some sell off despite precautions taken to reduce a run of selling.
The price when I woke up at 5 am Pacific time was around $8.5, and now has dropped to $6ish
Will this drop be a money grab trying to make up for the lost wealth in Luna Classic, it's token now called LUNC, or will this be the beginning of a long grind back to viability for a successful project? In my opinion it depends if the Luna Community decides to rally around the rebuild or takes their apps and time and move on to other chains.
Some Apps are clearly going to give it a go, some of the apps have now migrated to the new chain, including Astroport, Prism, RandomEarth, Spectrum, Nebula, Terraswap, Edge Protocol and others.
There are some complicated rules in place regarding the drop, how much of it is liquied and where and when it can be moved. Again, I find myself fascinated with the developments. Most of my exchanges have swapped old balances to LUNC, but haven't started trading LUNA yet in the form of LUNA 2.
It seems they will try to support the Developers and Apps that stick around.
Of course with any airdrop we would expect to see some sell off first, but time will tell if they are able to reestablish trust and rebuild.
Will you buy? Will you receive any tokens and will you sell? Personally, I am just watching for now.
Other Luna Topics I've covered.
Polygon offers to Support Luna Projects
Let me know what you are thinking about these recent developments
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If you don't know your exit liquidity, you are the exit liquidity.
Terra 2.0:
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LOL, truth and I love the gif.
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The original point of Luna was the algorithmic UST.
What’s so special about it now??
Exactly. I don't see how this chain will stand out against the competition. Every chain in the crypto space is appealing to the investors and LUNA hasn't offered anything to people yet with this new chain.
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Yep mostly just the idea everyone knows it's name and it has a community.
Time will tell, I'm certainly not recommending it.
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I don't know that I think it is special now, but it does have some advantages over other platforms with Name Recognition, Developers, Apps and also those who are hungry to try to regain some losses.
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Will see how they measure up against other L1 alternatives like AVAX, SOL, ADA, etc.
I never bought LUNA before the collapse and won't buy it now either. I did however take a small gamble during the carnage... everyone needs some fun now and then... :)
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Haha I don't blame you at all, I don't know what I will do, but watching for now is highly entertaining while everyting is down.
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Well... They excluded me with my LP in Osmosis so yeah, I hope it goes to 0 too, lol. One thing I am learning in this market cycle is to really just trust my gut more. My gut told me a couple of weeks prior to start unstaking my LP in Osmosis, because I needed to money because a brake job on my van is like $1000, just front brakes, because parts prices are through the roof. Then OSMO took a dip and said nah, I'll ride it and see if it comes back... That was my OSMO paired with UShiT. No more time locked LP for me...I have enough locked up in Hive that I watched go through the floor too, lol...
I hear ya, rough times for crypto prices especially if you need to use any for real life things.
Just remember the whole bear season isn't down, but it's likely to be slow going for a while.
So, sorry about your losses in OSMO
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Is what it is at this point, people lost allot more than me… It was just the timing that got me more than anything.
Oh, the people from Osmosis won't get anything? That really does suck and most of them couldn't avoid the UST fall due to the lock-up period.
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They say they are supposed to get something… I haven’t seen anything yet…
I think it's majorly going to be a money grab situation, especially those who wants to make up for the money they've lost.
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Could be, I think it depends on how the community feels about the changes.
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That's true, distrust is already in the offing, it's a very dicey situation but the community has to continue backing for this to work
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Yeah, going to be a rough path forward.
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Not bothered either way really as I will not touch it as I can see it being dumped as soon as any value is gained.
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Yeah, that is totally possible, I'm not buying
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Without Algorithmic stable coin LUNA is nothing. So, this hardfork will not help the project. It will try to prevent investors complaints & that's all.
Cheers~
So, some say!
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I've been following the developments regarding Luna 2 and am wondering what will happen next. I'm completely in the middle. Time will tell whether they will succeed or not. But it seems very difficult to rebuild trust.
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yeah, not buying just watching.
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I picked up some post-attack Luna which gave me enough to receive a few in the airdrop and then picked up a few more when the price dived. Now, I'll sit and watch to see what happens. May need to stock up on popcorn.
Nice! Reasonable gamble, it's going to be interesting
Yay, another shit coin is born!
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Yay! lol, I admit shitcoins can be fun, but maybe they work on it, maybe it just slowly bleeds to death again.
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Probably these users may be thinking of getting rid of it before it also crashes :D
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Haha, probably some of those guys for sure.
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I don't see the point of terra 2.0, it might work out and maybe not
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If Hive had a catastrophic event, I think some die hard community members would be tryin' to rebuild at .0002
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This calls to mind the famous W quote:
"There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on — shame on you. Fool me — you can't get fooled again.”
I'll be watching this new Luna saga from the sidelines.
!PIZZA
I do love that saying, and I understand your point.
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They have lost a lot of trust with people and I don't think it will really succeed. Unless they come up with a good plan and way to stand out, I don't think they will do well.
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Yeah, going to be a rough road, but I assume there are also loyal supporters among the Lunatics.
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I think it depends on the community and what they're planning to do. If they are all on the same page, they could build something great with it, like the phoenix rising from the ashes and it will be an inspiration for the whole crypto community. But we're dealing with emotions and lost of money, it'll just be another sell off and recoup of what is lost.
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Yeah, that's my take as well, depends on the commitment of the community, app developers and such.
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It is a gift in disguised now , if people invest enough in LUNC , they will make more money than before the crash , it is logical maths .
But they all need to invest and understand what is going on ... two coin for one , one blockchain .
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