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In May 2022, the Terra ecosystem experienced a dramatic collapse, with its stablecoin TerraUSD (UST) losing its peg to the US dollar and the value of its native cryptocurrency, LUNA, plummeting to near zero. In response to this crisis, developers on the Terra network initiated a hard fork, creating a new blockchain called Terra 2.0. The new blockchain launched in May 2022, with a new LUNA token (LUNA 2.0) to replace the original LUNA.

The launch of LUNA 2.0 was met with mixed reactions from the crypto community. Some welcomed the revival of the Terra project, while others expressed skepticism about its chances of success. The LUNA2.0 token was airdropped to LUNA holders who had held their tokens at the time of the crash. This airdrop was intended to provide some compensation to those who had lost money in the collapse.

The new LUNA token has experienced significant price volatility since its launch, but it has shown signs of recovery in recent months.

The future of LUNA 2.0 is uncertain, but it has a number of factors working in its favor. The Terra ecosystem has a strong community of developers and supporters, and it is home to a number of innovative projects.

Would you like to help the #LUNA community in their mission to bring the Terra ecosystem to its former glory? Go to your Profile & select LUNA in the Supported crypto project section.