Remember when we covered how to access and stake Terra Classic and Terra 2.0? Today, we thought it might be a good time to explore what's happened with the Terra 2.0 ecosystem since. But first, some context. Following the depeg of UST, institutions and other stakeholders of the Terra ecosystem were seeing their investments disappear; which caused other protocols to pause the options to transfer or unpair LUNA on their Liquidity Pools.
Proposals like Prop 1164 and 1273 were broadcasted with different plans to try to save the network. Ultimately, Prop 1623 brought the plan to a rebirth of the Terra Classic network. On May 28th, 2022 Terra Luna turned into Terra Classic with its $LUNC token, and Terra 2.0 was born, keeping the $LUNA token name. An airdrop landed into holders' wallets, and snapshots for eligibility were taken before and after the event.
So, what's happened with the Terra 2.0 ecosystem since?
As of now, $LUNA has a circulating supply of 130 Million $LUNA and a total supply of 1.01 Billion $LUNA, the max supply is uncapped. The $LUNA community pool currently sits at 331.38M $LUNA. It’s worth noting that the community should be very conscious of how they spend this money and make sure they get the best out of every $LUNA spent and bring value to the ecosystem.
A since introduced proposal called Proposal 446 establishes the emergency $LUNA allocation method for builders. The freed $LUNA allocation from this proposal intends to provide teams with capital to continue building on Terra 2.0. Thus, hoping to retain those who were duped by the earlier collapse.
Here are some examples of dApps currently built on Terra 2.0:
- TFM’s pro-trade DEX aggregator is live on Terra 2.0, Terra Classic and Juno. It is an aggregator offering trading features like Multi-hop and Volume splitting across, these two are the most advanced features that TFM has built to benefit users.
- Coinhall expressed its support for Terra 2.0, Coinhall provides prices, charts, swap aggregations, and analytics in real-time across all AMM DEX’s within Terra, Juno, and Cosmos ecosystem.
But wait, there are more, also NFT projects stuck around Terra 2.0, Terranauts, is a Terra NFT project. The lure is about 8611 Terrans, chosen to venture out into the Terraverse looking for a new home
Here you can find a list of all the projects that have expressed interest in supporting Terra 2.0, thanks Coin hall for gathering all this information.
Some people remain skeptical of Luna, others have hoped the ecosystem can climb back to its glory. Here at Stakin, we validate in both networks and are happy to serve you. If you have questions about Terra Classic or Terra 2.0, join our Discord.