When Terra experienced a fall, the crypto market as a whole was shaken up. Despite this, Terra aimed for a revival, using backing from cryptocurrency exchanges around the globe, to help fund the revival. Last Thursday, Terra revealed that they would be airdropping the native token for their new blockchain. This blockchain will be called Terra 2.0.
The tokens will then be distributed on Friday, and those who can receive the tokens include those who hold Terra Luna Classic. Holders of Terra USD Classic, as well as Anchor Protocol UST will receive these tokens as well.
The Revival of Terra
Certain crypto exchanges, such as FTX and Binance, have revealed that they are working in collaboration with Terra, when it comes to the planned airdrop. Binance also revealed that they aim to help users who were affected, by helping the Terra recovery and revival plan.
FTX also announced their support for the airdrop. They said that they would temporarily put a stop to UST and LUNA markets, while the migration was taking place. They also revealed that they were collaborating with other partner crypto exchanges that are working in favor of the airdrop.
Other cryptocurrency exchanges, such as KuCoin, have also stated that they support the Terra revival. They intend to support the migration, as well as the trading and listing of the new tokens from Terra, on KuCoin’s platform. The Terra 2.0 revival is expected to go well, and many crypto exchanges are supporting this revival.