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Cryptoknowmics 2022-05-26 07:54:05

Gate.io Supports Terra 2.0: Do Kwon



Earlier today, Do Kwon shared an announcement from Gate.io on Twitter. Gate.io are making plans to support Terra 2.0. The old Terra network will still be in use. But, the name UST and LUNA will be changing to USTC and LUNC. UST and LUNA holders are eligible for the airdrop with LUNA’s new Terra 2.0 token. Gate.io’s Announcement For Support Terra 2.0 Proposal 1623 got approval from Terra’s board. Developers will make another network. The old Terra networks are getting renamed Terra Classic. All UST and LUNA holders will get Luna on the new network as an airdrop. This ticker update and airdrop get Gate.io’s support. They will be sending new LUNA airdrops to qualified users. Proposal 1623 claims that UST and LUNA will be getting another name, USTC, and LUNC. The new network’s token for mining is LUNA. But, it will not have any Terra stablecoins. Gate.io will shut down UST and LUNA markets on 26th May at 08:00 UTC. They aim to back the ticker update and airdrop. Gate.io’s Schedule For the New Network Gate.io discontinued LUNA lending activities and margin borrowing. They will also discontinue reduced perpetual contracts. There will be no more margin or lending services available through Gate.io before 26th May. All UST and LUNA transactions get halted before the cutoff time on the 26th of May. Gate.io will be shutting down UST and LUNA trades on 26th May. They will be canceling every open order. They’ll delete any remaining cash f...

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