Will Terra reissue Luna crypto token?

Terra is relaunching its Luna crypto token, following its dramatic collapse that cost investors billions little over a fortnight ago. The plan to reissue the coin was approved on Wednesday, and Luna and UST holders can expect the token to be distributed to them starting Thursday.

Why is Terra Luna relaunching?

Why Terra Luna token is relaunching, how it works and the crypto price crash explained Terra is relaunching its Luna crypto token, following its dramatic collapse that cost investors billions little over a fortnight ago.

What happened to Luna crypto?

There are two stories regarding Luna crypto: the TerraUSD/UST stablecoin and the actual Luna coin. Once Luna and UST crashed, there was a total liquidity crunch in the cryptocurrency space that caused an even more catastrophic loss of value. The crypto community still hasn’t recovered.

What is Luna (Luna)?

LUNA is a governance token, and it also pegs Terra’s value to other stablecoin. Currently, TerraUSD (UST) stablecoin is for the Terra ecosystem and also other blockchain systems such as Solana through Mirror Protocol. One of Terra’s goals is to gain resources from seigniorage and distribute them to DApps.