The new Terra blockchain will be launched on Saturday, May 28. The developers will then conduct an airdrop of the new Luna tokens.
“The community has been working around the clock to coordinate the launch of the new network. Subject to possible changes, we expect Terra to launch on May 28, 2022, at approximately 06:00 UTC,” the Terra developers reported.
A snapshot of the new blockchain, currently called “Terra 2.0,” was taken earlier this week after a vote among network validators was completed.
LUNA and terraUSD (UST) owners are eligible for the new LUNA tokens. In theory, this will allow old holders to recover some of their lost investment value.