A new Terra chain will be developed with a new coin (LUNA) as its native token, according to 30-year-old Terra creator Do Kwon. It is dropping UST, the algorithmic stablecoin that collapsed in May 2022. Terra Classic is the new name for the old chain, while LUNA Classic (LUC) will be the new name for the old LUNA (LUC). Holders of the old LUNA will receive an airdrop of the new token.
Mark Cuban was candid when asked if he was going to invest in the new ecosystem: “No,” he told Fortune. In the past, Cuban had not invested in UST or LUNA: I’m not involved at all.”.
He previously told Fortune that he had never owned any, and also refused to invest in anchora decentralized finance (DeFi) platform based on Terra.
“Investing in cryptos is like investing in any other businesshe said. You check to determine if the product or service is in the long term. »
Cuban holds a diverse portfolio of digital currencies, NFTs and blockchain-based businesses
The billionaire investor, crypto enthusiast and owner of the Dallas Mavericks seems to have become more cautious about cryptos after his considerable losses on a project called Titan (Titan Token) in June 2021.
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LUNA 2.0, implementation date postponed
Terra submitted a relaunch plan this week, which received some mixed support from the community and was supposed to launch on May 27, 2022. clear.