The developers launched the main network of the Terra 2.0 project

The head of Terraform Labs, Do Kwon, announced the launch of the main network Terra 2.0, which received the identifier Phoenix-1. According to him, the participants of the LUNA airdrop have already been credited with tokens – to see the balance, you need to connect to the Terra Station system.

Kwon added that new members from the ecosystem Inter-Blockchain Communication Protocol need to connect to Terra Station using the same network that they previously used with Terra Classic.

Block Explorer Terra Finder added Phoenix-1 support. According to the service, the network has produced over 330 blocks at the time of writing.

Terraform Labs said that users can transact with liquid LUNAs, including staking, trading, and transactions with decentralized applications after their launch.

“Because Terra 2.0 is other chainnot fork, dapps from Terra Classic will have to be restarted on a new blockchain,” the developers reminded.

Located in vesting LUNA are automatically staked. Users can choose a validator through re-delegation or through de-delegation. In the latter case, you will have to wait 21 days.

Data: Terra Station.

According to Terra Station, the total supply of LUNA is fixed at 1 billion tokens – of which over 328 million coins are in the community pool. The rest of the cryptocurrency is distributed during the airdrop process.

Launch of Terra 2.0 supported many centralized exchanges, including Binance, Huobi and Kraken. Most platforms have yet to make announcements regarding the launch of LUNA trading. However, some industry participants have already disclosed the opening time of the relevant spot market.

May 28, 2022 | 11:57Update:

Cryptocurrency exchange Bybit has opened access to the LUNA/USDT market. Trading started at $0.5, and in less than an hour, asset quotes have grown significantly – at the time of writing, the price is $17.55.

Data: Bybit.
May 28, 2022 | 14:00Update:

Access to LUNA was also opened by cryptocurrency exchanges OKX,, Bitrue and KuCoin.

For example, the MEXC exchange will open access to LUNA paired with USDT on May 28 at 13:00 (Kyiv / Moscow time). The pair will trade within the “innovation zone” of the platform.

As a reminder, on May 26, the Terra Classic community approved proposal for burning TerraUSD (UST)which are in the community pool, as well as stablecoins issued as part of the last stage of stimulating liquidity on the Ethereum blockchain.

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