Huobi Confirms It Will List LUNA 2.0; Binance to Support Terra’s Recovery Plan

Huobi, a cryptocurrency exchange, has declared that once LUNA 2.0 is ready, it will list it to support Terraform Labs’ recovery strategy following the collapse of TerraUSD and the token Terra (LUNA). Huobi announced the proposal on Twitter on May 25, joining a number of other cryptocurrency exchanges that have already expressed interest in restarting the Terra network. After Terraform Labs CEO Do Kwon revealed a proposal to see a new chain replace the old Terra network, LUNA 2.0, which goes online on May 27, has been nicknamed the Luna rebirth. LUNA 2.0 will be released to replace the present Luna version. As a result, it will cut relations with the UST stablecoin, which sparked the crisis when it lost its dollar peg. Kwon’s Plea to list LUNA 2.0 Kwon had requested that key cryptocurrency exchanges relist LUNA 2.0 after it went live, according to Finbold. Following the crisis, exchanges including Binance and Coinbase decided to remove Terra coins from their platforms. Binance, on the other hand, has stated that it will assist the rebirth through LUNA 2.0. After Kwon’s request was granted, the platform revealed in a tweet on May 25 that it had established a working connection with Terra. The LUNA 2.0 will be distributed through airdrop, with Terra stating that the supply is limited to 1 billion units. Pre-attack Luna holders, post-attack Luna holders, pre-attack Aust holders, post-attack UST holders, and the community pool have...