The Terra team’s action has received widespread support from many exchanges.
LUNA has difficulty dealing with the entire tragedy and the subsequent occurrences.
According to the crypto community members, the distribution of airdrop tokens was lopsided. There was a difficulty with the dispersal of airdrops, and the Terra team acknowledged this. According to them, a solution is in the works.
However, it does not seem like the crypto community has warmly welcomed the airdrop. Lark Davis, a cryptocurrency investor, and analyst said on Twitter that he had sold the LUNA tokens he had received as an airdrop from Binance. Investors may begin to believe that LUNA 2.0 is no longer worth their time.
Tough Times Ahead to Regain Trust
The Terra team’s action has received widespread support from many exchanges. This includes Binance, which has completed its first LUNA 2.0 airdrop distribution. In the first phase, Binance gave away 30% of LUNA 2.0.
In December 2022, Binance announced that the airdrop’s second phase would commence. The exchange will take 24 months to disperse the remaining 70% airdrop. The Terraform Labs crew is doing all they can to bring LUNA back to life after they emerge from the dark depths. Several people lost their entire life savings due to the financial crisis.
The Terra team decided to airdrop the updated Luna token to those impacted by the May 27 launch of LUNA 2.0. After the original LUNA (now known as LUNA Classic) crashed and went to 0 value, the choice was presented. LUNA has difficulty dealing with the entire tragedy and the subsequent occurrences. If the resurrection plan works, LUNA will be able to reclaim the title, but the people will have to wait to find out.