After the catastrophic events that unfolded with Terra a couple of weeks ago, it’s no surprise that everyone is eager to see what Terra 2.0 has in store.
The Terra team’s formal release date (subject to change) is May 28th, 2022, at around 06:00 AM UTC. Terra took to their socials an hour ago to give everyone an overview of the important things to know before launch.
The question everyone is most prominent on having answered is when the airdrop for the new LUNA tokens will occur. Taken from the official Terra Twitter, the LUNA airdrop will occur on the first block of the new Terra chain, expected on or around May 28th, 2022, at 06:00:00 GMT.
30% of the LUNA airdrop will be available immediately to those holding LUNA, aUST or UST before the Pre-attack and Post-attack snapshots. Airdropped tokens will automatically be deposited into the affected Terra wallets.
The other 70% of LUNA will be held and slowly released over a vesting period of over two years with a six-month cliff.
Staked tokens will appear in users’ Terra Station wallets under the new network “Stake” tab. After the vesting period has been reached, LUNA tokens will become available in their wallet.
If you’re interested in reading more about the Airdrop and vesting period, you can do so here.
Many of the dApps that users have grown familiar with have committed to migrating over from Terra Classic (formally Terra) to the new Terra chain. This includes but is not limited to: